Gold Price Outlook Positive, Silver Price Continues to Struggle

From dailyfx.com

Gold has been unable to hold its recent 14-month high and is drifting back towards minor support around $1335/oz. after a Friday rebound in the US dollar. The greenback remains the primary driver for gold and this Wednesday’s FOMC meeting will be closely followed for any further talk on the timing of US interest rate cuts. The Fed is fully expected to indicate a 0.25% rate cut at the July meeting, and if this expectation is missed, the US dollar may rally further, weighing on the price of gold. DailyFX senior currency strategist John Kicklighter will be running Live Coverage of the FOMC Rate Decision on Wednesday ... (full story)