Gold, Silver Prices Modestly Up To Start Busy Trading Week

Monday, 17 December 2018 20:43 WIB

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Gold and silver futures prices are moderately higher in early U.S. trading Monday, supported in part by a weaker U.S. dollar index and higher crude oil prices.

February gold futures were last up $2.20 an ounce at $1,243.70. March Comex silver was up $0.048 at $14.685 an ounce.

An eventful trading week lies ahead. The U.S. Federal Reserve’s Open Market Committee (FOMC) meets Tuesday and Wednesday to discuss monetary policy, while the U.S. government could be shut down at the end of the week if Congress and President Trump cannot agree on a budget plan.

Most expected the FOMC to raise interest rates by 0.25% on Wednesday afternoon, at the conclusion of their meeting.

Also, the Chinese government could this weeek announce major new economic initiatives to stimulate the world’s second-largest economy. China’s central bank made an unexpected injection of money into its financial system on Monday.

A heavy slate of U.S. economic data is also due out late this week, including the first estimate of third-quarter gross domestic product.

Source: Kitco


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