Gold and silver prices were soaring late Tuesday as the Federal Reserve admitted it had contemplated pumping more money into the financial system at its last FOMC meeting.
An after hours $20 rally wasn't even the brightest spot for gold. Prices settled at a record, up $13.10 at $1,562.30, narrowly beating out May 2nd's record of $1,557.10 an ounce. The gold price has traded as high as $1,556.10 and as low as $1,541.10 but has popped to as high as $1,574 an ounce in after hours trading, a stone throws away from its old high of $1,577. The spot gold price was up $15.50, according to Kitco's gold index. 
Silver prices actually ended the day down 6 cents at $35.63 an ounce. but have since joined gold in its furious rally up 54 cents to $36.24 in after hours trading. The U.S. dollar index was down 0.12% at $75.82 and the euro was down slightly against the dollar.
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