Los Angeles CA, June 12 (Tangible Investments) — by James O’Dell — Gold and Silver prices edged lower in early trading on Monday as investors focus on FOMC meeting Brexit Talks. Gold is down 0.13 percent to $1,264.70 an ounce after tumbling 11.20 on Friday to end the week at $1,266.40.

Silver is down 0.96 percent to $17.01 an ounce after retreating $0.24 on Friday to finish the week at $17.17 an ounce. The Gold/Silver ratio rose to 73.76. Platinum is up 0.43 percent at $941.00 an ounce. Palladium is up 1.28 percent to $872.00 an ounce.

Investors seem anxious to move past the latest political turmoil and focus on the Fed’s two-day Federal Open Market Committee (FOMC) meeting which starts Tuesday. The policy meeting is expected to end on Wednesday with a 1/4 percent interest rate hike.

According to CME’s FedWatch tool, there is better than a 98 percent chance for an interest rate hike in June.

“I think the market is already expecting a dovish rate hike,” said Colin Cieszynski, senior market analyst at CMC Markets. “The U.S. Dollar Index is trading at 97 heading into the rate hike. Ahead of the March rate hike, the dollar was trading at 102,” said Cieszynski.

“Despite near-term weakness, Gold is still in a rising uptrend. The number of risks heading into the fall continue to mount and that will be bullish for Gold in the long-term,” added Cieszynski.

UK  Prime Minister Position Uncertain

Meanwhile, in Britain, Prime Minister Theresa May must convince her Conservative Party that she should remain as leader. The Prime Minister is still reeling from a disastrous decision to have a snap election to build on her momentum.

The election did just the opposite and weakened her position in the UK. Now just days before formal Brexit talks are to start, she must build a coalition government to remain in power.

“It is hard to overstate what a dramatic impact the current political uncertainty is having on business leaders, and the consequences could – if not addressed immediately – be disastrous for the UK economy,” said Institute of Directors director general, Stephen Martin.

It’s important to protect your hard earned wealth during these times of economic and geopolitical uncertainty. At Tangible Investments, it doesn’t matter whether you’re new to precious metals or a seasoned veteran, you will always be dealing with top industry experts.

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