Fed Sources Juice Metals Market (GLD) (IAU) (SLV) (JJC)

July 25, 2012 8:58 AM EDT
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On Tuesday afternoon, a Fed source told reporters at the Wall Street Journal that they could act to stimulate the economy as soon as next week. In response, SPDR Gold Trust ETF (NYSE: GLD) moved higher by 1.15 percent pre-market on Wednesday. Spot gold is testing $1600 per ounce and traders say gold will be looking to take out resistance at $1630 in short order.

iShares Silver Trust ETF (NYSE: SLV) is higher by 1 percent, as spot silver looks to press $27.50 per once. It currently trades at 27.30.

iPath DJ-UBS Copper TR Sub-Idx ETN (NYSE: JJC) is expected to open higher, as copper futures add 0.85 percent in early trading on Wednesday.

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