Los Angeles CA, October 31 (Tangible Investments) by James O’ Dell Precious metals prices were mixed on Tuesday as Gold dips ahead of Fed policy meeting. Gold is down 0.60 percent to $1,268.40 an ounce after gaining $2.80 on Monday to close at $1,276.00.

Silver is down 1.07 percent to $16.65 an ounce after easing $0.02 on Monday to close at $16.83 an ounce. The Gold/Silver ratio, the number of Silver ounces needed to buy an ounce of Gold, rose to 75.82. Platinum is down 0.33 percent to $914.00 an ounce. Palladium is up 1.25 percent to $969.00 an ounce.

Gold dipped in early trading on Tuesday as the dollar weakens and investors await Fed policy announcement on Wednesday.

Fed policymakers begin their two-day meeting today and while no major changes to monetary policy are expected, the statement released on Wednesday at the conclusion of the meeting will be scrutinized for clues as to whether the committee is likely to go ahead with the expected interest-rate increase in December, says Sam Laughlin, of MKS (Switzerland) S.A.

Investors are also awaiting word on the new Fed Chief. Indications are that President Trump is leaning toward [Fed Governor Jerome] Powell as the next Federal Reserve chair, with the decision expected to be made on Thursday, said Laughlin. Lending support to Gold is the notion that the Trump Tax Plan will take some time to get passed.

Meanwhile, geopolitical tensions are rising again with the Catalan secession, as Catalonia’s deposed president, Carles Puigdemont remains in Belgium. Puigdemont says he isn’t seeking asylum in Belgium and would return if a fair judicial process were guaranteed in Spain.

North Korean Threat Accelerating

In South Korea there are rumors of a planned missile test by North Korea during President Trump’s Asia trip. Defense Secretary Jim Mattis warned over the weekend that the threat of nuclear missile attack by North Korea has accelerated.

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