Gold and Silver Report: Gold Prices Edge Lower Ahead of FOMC Meeting

by Christopher Freeburn | April 29, 2014 5:36 pm

Gold prices dipped for a second straight session on Tuesday as the Federal Reserve kicked off its two-day Federal Open Market Committee meeting. The Fed has announced a $10 billion reduction in its monthly bond-buying at the conclusion of each of the last several meetings. Most analysts expect the Fed to announce another round of stimulus tapering tomorrow.

gold and silver reportGold futures for June delivery slipped 0.2% to $1,296.30 per ounce on Tuesday, according to CME Group[1]. Gold prices were as high as $1,302 and as low as $1,286.10. Bullion closed in London at $1,297, according to BullionVault[2].

Silver futures for July delivery fell 8 cents at $19.54 per ounce. Tuesday’s high for silver was $19.63, while the low was $19.34.

Here’s how metal-based funds and mining stocks fared on Tuesday:

Gold and Silver Funds

Gold and Silver Mining ETFs

Gold Miners

Silver Miners

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[22] contributed to this report.

Endnotes:
  1. CME Group: http://www.cmegroup.com
  2. BullionVault: http://www.bullionvault.com
  3. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  4. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  5. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  6. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  7. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  8. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  9. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  10. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  11. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  12. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  13. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  14. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  15. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  16. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  17. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  18. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  19. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  20. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  21. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  22. BullionVault: http://www.bullionvault.com/

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