Daily Gold Update

Source:Dana Samuelson, American Gold Exchange

AustinGold regained yesterday�s post Fed minutes $7 decline today, inversely mirroring 0.4% U.S. dollar weakness against other currencies, as markets continued to digest the release of yesterdays January Fed meeting minutes. St. Louis Fed President James Bullard undercut trader�s assumptions of four possible Fed rate hikes this year following the release of yesterdays minutes when he said on CNBC this morning, �"The idea that we need to go 100 basis points in 2018, that seems like a lot to me. Everything would have to go just right. The economy would have to surprise on the upside a bunch of times during the year. I'm not sure that's a good way to think about 2018." Four rate hikes this year will turn Fed policy "restrictive," with inflation still below the 2% target.

The other precious metals followed golds lead back to the levels they were at yesterday�s New York market close, before the Fed minutes were released. April gold rose 60 cents to $1,332.70. March silver lost 3 cents to $16.58. April platinum gained $2.80 to close at $999.40. March palladium jumped $11 to $1,033.50.