Gold held its price in and around the $1,100 level, as investors waited for tonight's Interest Rate decision, and the State of the Union speech from President Obama. The FED end their two day meeting tonight, and it is widely believed that rates will remain unchanged. Traders will be looking at the FED statement for clues to future interest rate policy, which may well influence the price of the US Dollar.
Gold & Silver
- US consumer confidence jumped in January
- UK Q4 GDP came in at 0.1%, lower than analysts expectations (0.4%)
- US Interest Rates are widely expected to remain unchanged, but traders will be looking to the statement to eye the potential winding down of the asset purchase programme
- Ben Bernanke's term as FED Chairman ends on Sunday, as the Senate continue to debate whether or not he should be granted a second term
- Reports suggest that the Chinese Central Bank have made fresh moves to curb lending. China's central bank asked several lenders to raise their reserve ratios according to reports, in an attempt to cool down the nation's loan growth.