The prices of Gold and Silver have been trading very steadily in the early trading in the United States on Wednesday. Traders are putting their activities on hold in the middle of the week while they are awaiting the meetings of central bank which are likely to happen soon. There has been a fading of gold and silver bulls off late and therefore need some bullish news. December gold futures had been up last by $0.60 per ounce reaching at 1,499.80.
Prices of December Comex silver were up last by $0.024 at $18.21 per ounce.
The markets of Europe and Asia had been up during the night and the stock indexes in the United States had been pointing towards mixed opening when the session of the New York day began. Generally, there is a low risk aversion during the middle of the week. China has been giving a positive overture to USA with regard to trade when it had said that it will be exempting a few products from tariff for a year. This trade tensions between the two top economies in the world had seen a mellowing down during this week.
There has been a shift to the European Central Bank meeting on Thursday which I saw when ECB is projected to cut the interest rates and pushing them further into the negative area. It is expected that the Federal Reserve will be meeting in the next week and there has been an expectation to cut the rate of interests by 0.25% in the United States. .
The markets outside saw the crude oil prices rise and it traded below $58 per barrel ahead of the meeting scheduled on Thursday.
Daniel Serrano had acquired considerable experience in writing and editing publications before recruited by Daily Industry Updates news portal as Editorial Manager. His key task is to conduct effective business reviews based on the most recent business strategies. Due to his stronghold and understanding over finance, marketing, business, and trade-related topics, he is known as a business counselor among the staff. His expertise in business-related topics is quite impressive. His business-related concepts are on fingertips, which aids in illustrating the business-related articles in brief and defined way, clear to even an amateur. He pursued his post graduation in Finance from a UK-based university.