Gold declined to $1625 & Silver sharply dipped to $29.93 after the FOMC policy makers kept interest rates unchanged, refrained from new actions to lower borrowing costs & are also holding off on additional steps to boost the economy.
Gold and Silver are technically down close to strong support levels in the longer term.
Bottom fishing in both look attractive at current low’s or even at slightly further lower levels. Positional traders or investors in these commodities can start staggered buying in next month contracts of Silver & Gold.
Silver close month contract expires in a few days in the Commodity Exchanges & trade in the same can be volatile.
Gold remains attractive till keeps floating above $1603 & Silver till holds fort above $28. Keep invested in these for a medium term outlook, as more turbulent times are around the corner.
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