Precious Metals Edge Up as Fed Holds Rates Steady, Jobs Data Awaited

Gold and silver prices are just slightly higher in midday U.S. trading Thursday, supported by bullish daily outside market forces.

The Fed did not raise U.S. interest rates at its meeting, which was expected. Fed Chairman Jerome Powell hinted at possibly being done with rate hikes.

The Bank of England met on its monetary policy today and made no changes, as expected.

The U.S. employment report for October is due Friday. The key non-farm payrolls number is forecast up 170,000.

Technically, gold futures bulls have the overall near-term advantage. Next resistance is $2,000, support is $1,978.