Gold and silver prices ended the U.S. day session weaker Wednesday, on some profit taking from recent gains that pushed both metals to a three-week high overnight. This afternoon’s beige book report was not a markets-mover. December Comex gold was last down $4.10 an ounce at $1,349.90. December Comex silver was last down $0.288 at $19.85 an ounce.
The Federal Reserve’s beige book said U.S. economic conditions continue to expand at a modest pace, and the Fed expects more of the same in the coming months. Traders deemed the report to contain nothing new for them to digest.
Traders and investors are awaiting Thursday’s meeting of the European Central Bank. The ECB will issue fresh economic forecasts and assessments at this meeting. The consensus for this meeting is that the ECB will make no significant moves on EU monetary policy.
Reference: KITCO
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