Silver Hits 3-Week High Ahead of FOMC Decision, David Morgan Comments | Kitco News

December silver futures prices closed near the session high and hit a three-week high today, but one silver guru is remaining cautious. ‘One day does not make a market,’ said David Morgan, editor of the popular newsletter, silver-investor.com. ‘Will it fall through or not? I think it depends on how the Fed’s action or inaction tomorrow manifests in the marketplace,’ Morgan said in an interview with Kitco News. He added that he does not think the U.S. Fed will act this month. December silver futures jumped over 4% on Wednesday, with prices last up $0.559 at $14.89 an ounce. The focus of the world marketplace is on the Federal Open Market Committee meeting that began Wednesday morning and ends Thursday afternoon. A statement and press conference from Fed Chair Janet Yellen are set for Thursday afternoon. While there is no consensus among traders and investors on whether the Fed will or won’t make an interest rate hike for the first time in several years, there seems to be a growing sense the Fed will make a move of 25 bps. Kitco News, September 16, 2015.

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: http://www.kitco.com/newsletter

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com — Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews — Kitco News on Facebook: http://facebook.com/kitconews — Kitco News on Google+: http://google.com/+kitco — Kitco News on StockTwits: http://stocktwits.com/kitconews

Categorised as: interesting

Posted by: Haime1979

Comments are disabled on this post

Comments are closed.

Disclaimers – All content here is NOT presented as investment advice; LessThunk is NOT endorsing any website or specific investment by displaying external links.

We may or may-not (coincidentally) hold some quantity of stock or other investment related to any given post, no endorsement is implied in any sense.