Goldand silver prices are moderately higher inearly-afternoon U.S. trading Tuesday. A weakening U.S. dollar index and crudeoil prices at a four-month high supported the precious metals markets today.April gold futures were last up $4.80 an ounce at $1,306.40. May Comex silverwas last up $0.038 at $15.36 an ounce.

Palladiumprices jumped to a record high above $1,150 a ton in June futures today, due inpart to Russia, the world’s largest producer, banning the export of scrap andtailings of precious metals from May until November.

Thekey outside markets today saw the U.S. dollar index weaker and at a three-weeklow. The greenback bulls have faded recently. Meantime, Nymex crude oil pricesare modestly down in midday trading but hit a four-month high overnight.

Riskappetite in the world marketplace remains elevated, as there are no major geopoliticalmatters jolting the world markets. This element continues to constrain thesafe-haven gold and silver markets

Trader and investor focus ison the FOMC meeting of the Federal Reserve, which begins Tuesday morning andends Wednesday afternoon with a statement. The FOMC is not expected to changeits monetary policy at this meeting. The Fed has become more dovish the pastfew months. As usual, the marketplace will glean the FOMC statement and FedChairman Jerome Powell’s wording for clues on the future path and timing ofmonetary policy changes.

The unresolved Brexit mattercontinues simmer on the back burner of the world marketplace. The latestdevelopment saw a Member of Parliament block for voting a plan presented byPrime Minister Theresa May. It’s becoming more likely that the U.K.’s exit fromthe European Union will be a long, drawn-out affair.