A-Mark-Precious-Metals-IncGold was trading lethargically yesterday when a 9,500 lot (950,000 ounces) sweep on the electronic exchange yanked it from $1,186 all the way up to $1,200 in a matter of minutes.  This occurred right around the time of the PM fix and it was a much needed bullish move after the poor close gold had to finish last week.  Yesterday also represented the biggest volume day of the June gold contract with over 200,000 lots trading during the session.  The USD has been on a recent decline and the dollar index is at a three week low.  Yesterday, economic data showed that the US services purchasing manager’s index fell below economists’ estimates.  This helped keep gold above the $1,200 area after the sweep and it seems like participants are now awaiting the FOMC tomorrow before adding to positions.  Gold still remains in a range with some significant resistance levels looming overhead at the 100 and 200 day moving averages ($1,211.40 and $1,224, respectively).  Any deviation from FOMC expectations tomorrow may be exactly what gold needs to break out of its recent range.  Silver rallied an impressive 4.25% yesterday and is now sandwiched between its 50 and 100 day moving averages.