Gold, silver firmer after FOMC statement with no big surprises

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.prices are posting decent corrective advances in early-afternoon U.S.

On Friday morning comes the April U.S. jobs report from the Labor Department. The key non-farm jobs component of the jobs report is expected to show a rise of 240,000, following the March report showing a rise of 303,000. Today’s ADP national employment report for April showed a rise of 192,000 jobs, compared to expectations for a rise of 183,000.

July silver futures prices hit a four-week low Tuesday. The silver bulls have the slight overall near-term technical advantage but are fading. A two-month-old price uptrend on the daily bar chart has been negated and a downtrend line is in place. Silver bulls' next upside price objective is closing prices above solid technical resistance at $28.00. The next downside price objective for the bears is closing prices below solid support at $25.00. First resistance is seen at $27.

Jim is the proprietor of the"Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected"Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com.

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