Gold Gains Ahead of FOMC Meeting’s Close

by Christopher Freeburn | April 30, 2013 4:26 pm

Gold Silver GLD IAU SLV[1]Gold rose modestly in Tuesday trading as a weaker-than-forecast ISM Chicago business survey sent the U.S. dollar down, driving commodities higher. Investors’ timidity could be chalked up to their anxiousness over the outcome of the Federal Reserve’s Open Market Committee Meeting tomorrow.

Gold futures for June delivery inched up 0.3% to $1,472.10 per ounce on Tuesday, according to CME Group[2]. Gold traded as high as $1,479.50 and as low as $1,460.50. Gold bullion closed in London at $1,479, according to BullionVault[3].

Silver futures for June delivery rose 0.1% to $24.16 per ounce. Tuesday’s high for silver was $24.45, while the low was $24.

Gold and silver funds were mixed in Tuesday trading.

Gold and silver mining ETFs improved during the day.

Gold mining shares mostly advanced on Tuesday.

Silver mining shares moved higher.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

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  23. BullionVault:

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