Commodities Update: Slight Movement in Gold and Silver

Commodity prices inched down as tensions wane between North Korea and USA. The focus however, shifted to the Federal Reserve meeting which is all set to tune the tone for the market as it decides what to do with the interest rates in the future.

Gold moved up today recovering from falling to its lowest in two weeks on Monday, as the market focus shifted to Fed Reserve Meeting expected to kick off today.

Spot gold was up 0.06 percent at $1,308.44 an ounce, after dropping to its lowest level since Aug. 31 in the previous session.

Spot Silver, however, was down 0.52 percent from previous close, clocking in at $17.119 an ounce. Silver continues to trade on a Seven Day moving average of around $17.65 an ounce.

Spot Palladium and Platinum were also down, by 0.37 and 0.32 percent respectively in the international markets.