The spot values of gold and silver are moving sideways today, but have performed decently through the first two days of the week. As you probably are well-aware by this point, the Federal Open Market Committee’s latest meeting is scheduled to wrap up today, and the results, or lack thereof, will be of the utmost importance to investors. In addition to this, investors in the UK and around the world are preparing for tomorrow, which will bring with it a Scottish referendum on independence.
In geopolitical news, things have been fairly quiet over the last week or so. Though Obama and his officials have alluded to the possibility of a more widespread fight against ISIS militants in Iraq and Syria, most of this has been nothing more than proposed talks and things of that nature. In Ukraine, a ceasefire agreement reached between pro-Russian rebels and Ukrainian military forces appears to be holding still–now in its second full week. Though the ceasefire agreement is not necessarily beneficial for precious metals, it is definitely welcomed by the people of war-torn Eastern Ukraine. It will be interesting to see where this situations heads in the coming days and weeks as there is no sure way of telling whether this ceasefire will lead to lasting peace or not.
The Eyes of Investors Shifts to FOMC Meeting
Unless you have been living under a rock in recent weeks, you are more than aware of the possibility of higher interest rates in the United States. Though it is not agreed upon when interest rates will be raised, most investors are sure that a hike is coming sooner rather than later.
For this reason, most investors from around the world are pay particularly close attention to the Federal Open Market Committee meeting, scheduled to wrap up sometime this afternoon. In addition to news on interest rates, the investing world would also like to hear about when exactly Quantitative Easing will be done away with. All of this information and more is expected to be made public sometime in the afternoon as that is when the FOMC meeting is scheduled to wrap up. After the meeting’s conclusion, Fed chairperson Janet Yellen is expected to speak to the media, and it is at this point where a boatload of information is expected to be uncovered. Whether this is the case or not remains to be seen, but we do know that the whole of the investing world will be hanging on to every one of Yellen’s words.
Though there is no way of telling what the rest of the week has in store for gold and silver, we do know that things will begin to pick up considerably in the coming hours.