The Federal Reserve raised interest rates

GOLD

Today, the Federal Reserve, as expected, raised interest rates by ¼ of a point. They also confirmed that it is likely they may raise them again twice this year. This is mildly bearish for Gold and the price dropped $2 per ounce.

At 11:15am PDT today, Gold is trading at $1,295 per ounce, down $2 on good volume.

SILVER

Silver briefly moved above the important resistance level, reaching a high of $17.04 before selling appeared. For the most part of the trading day, Silver has traded between $16.80 and $16.90 with good volume.

At 11am PDT today, Silver is down $0.02 per ounce, trading at $16.85 on good volume.