Gold At Two Week High Following FOMC Meeting

As eager, bullish U.S. dollar traders were watching the latest meeting notes from the Federal Reserve meeting today, they were left disappointed by a projection of merely three interest rate increases this year, rather than the four they were hoping for.

Gold hit its highest level in two weeks today following the results of the Federal Open Market Committee's (FOMC) meeting. This was also its highest gains since last month's meltdown in the equity market. The precious metal is currently up almost 1.59 percent on the day, up to $1,332.80 per ounce. Gold reached nearly a 2 percent gain earlier in the session.

Silver also posted solid gains on today's news, last seen up by $0.335 to $16.525 per ounce. The U.S. dollar performed poorly today, while Nymex crude oil reached a six-week high on its chart.