Gold is posting solid price gains in afternoon trading Wednesday, getting a good boost following an FOMC statement that the market place is initially deeming as surprisingly dovish. Short covering in the futures market and bargain hunting in the cash market are featured. A drop in the U.S. dollar index is also supporting the gold and silver markets.
April Comex gold was last up $21.70 at $1,169.20 an ounce. May Comex silver was last up $0.362 at $15.93 an ounce.
