Comex Gold, Silver Weaker as Traders Now Await FOMC Meeting Conclusion

(Kitco News) – Comex gold and silver futures prices are trading slightly lower Wednesday morning, as weaker crude oil prices and a firmer U.S. dollar index today are bearish impediments for the precious metals. Safe-haven investor demand as the Greek debt crisis continues to play out is limiting the downside in gold and silver. However, focus for the moment has turned to the Wednesday afternoon conclusion of the Federal Open Market Committee meeting and Fed Chairman Bernanke’s press conference following the meeting. August gold last traded down $1.10 an ounce at $1,545.30. Spot gold last traded down $2.50 an ounce at $1,545.25. July Comex silver last traded down $0.279 at $36.10 an ounce.

http://blogs.forbes.com/kitconews/2011/06/22/comex-gold-silver-weaker-as-traders-now-await-fomc-meeting-conclusion/