Gold futures reversed earlier losses following the Federal Reserve's 25-basis-point rate cut announced at 2:00 PM ET. The yellow metal surged $35 in the hour after the decision, reaching an intraday high of $4,268.

Both gold and silver are trading moderately higher today as traders position themselves ahead of the Federal Reserve's highly anticipated monetary policy decision, scheduled for announcement at 2:00 PM EST Wednesday following the conclusion of this month's

Silver traded near its all-time high on Monday, supported by the strongest weekly inflows to exchange-traded funds since July.