Comex gold and silver futures prices rallied sharply and moved to daily highs in afternoon trading in the wake of a bullishly construed statement from the Federal Reserve. June gold hit a new all time record high of $1 524.20 an ounce. The U.S. dollar index weakened and fell to its daily low hitting a fresh 2.5 year low in the wake of the FOMC meeting statement which contained no major surprises but did hint that U.S. interest rates would remain low for some time to come.

Originally from Commodity Online Bullion News