Gold and silver are managing to keep their heads above water on Tuesday as the marketplace awaits a busy day tomorrow. There are going to be few fresh inputs today, but tomorrow will bring with it both the latest FOMC minutes as well as some new economic data. The president of the St. Louis Federal Reserve bank is also scheduled to speak tomorrow meaning investors will be tuning in in hopes of uncovering clues with regard to the future of monetary policy in the United States.

Some people are still holding out hope that Quantitative Easing will be tapered before the year’s end, though most experts agree that it will not be until the middle to latter stages of 2014 until QE is altered at all.

FOMC Minutes, Bullard to Speak

The FOMC minutes are always something investors latch onto simply because any news regarding monetary policy changes will almost always have some sort of impact on the precious metals market. The FOMC minutes due out tomorrow are of particular importance simply because there is a strong contingent of people who still believe QE will be tapered at the upcoming December Federal Reserve meeting. With that being said, however, most market experts agree that QE is not ready to be tapered quite yet.

Jame Bullard, president of the St. Louis Federal Reserve bank, is scheduled to speak tomorrow; likely after the FOMC minutes are released. It is unclear what Bullard’s speech will focus on, but if the past is any indication of the future he will likely make his opinion regarding Quantitative Easing known once more. In the past Bullard has been a strong supporter of the retention of QE, though who knows what he will have to say this time around. Should tomorrow’s FOMC minutes and Bullard’s speech be in favor of a continuation of accommodative monetary policy, it is likely that gold and silver might finally see some sustained gains.

Economic Data Due Out

Tomorrow as well as Thursday are busy days as they stand, but the release of some crucial economic data will make these two days even more hectic. Due out on Wednesday is the latest Consumer Price Index, retail sales data, and existing home data. A day later, on Thursday, investors are going to be greeted with the weekly jobless claims report as well as the latest Producer Price Index reading.

Friday is shaping up to be a quiet day as far as economic data and news stories are concerned, but with the previous two days’ data to take into consideration investors will likely be buzzing.