📈Precious metals rallies ahead of next week Fed decision
Precious metals are gaining strongly just ahead of next week's Fed decision. Market expectations give a 45% probability of a 50 basis point hike at Wednesday's meeting. Earlier in the market, it was reported that funds increased their allocation in precious metals futures ahead of next week's decision. Although marginally higher core CPI inflation is unlikely to justify a larger cut by the Fed, all the while it cannot be ruled out.
GOLD
Gold is testing the vicinity of $2580 per ounce, which are new historical highs in the gold market. Gold has gained nearly 3% per ounce since yesterday, breaking out of the consolidation between $2480-2530 per ounce. Yields on 10-year U.S. bonds have settled below 3.7%, and contracts on the dollar index (USDIDX) continue to fall below 100.6, following today's rollover.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appSource: xStation5
SILVER
Silver is above $30 per ounce today and is at its highest since mid-July. Silver has gained nearly 10% in value since the beginning of this week. The next strong resistance is around $31.5 per ounce. 
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
