Fed confirms high probability of rate increase

GOLD

The Federal Reserve ended a two-day meeting today with a statement confirming a high probability of an interest rate increase in December. Initially, there was an increase in Gold’s CME exchange trading volume as the price dropped $4. At 11am PDT today, Gold is trading at $1,305 per ounce, down $4 on strong volume.

SILVER

Silver followed Gold lower, reaching a low of $17.15 per ounce. At 11am PDT today, Silver is down $0.06 per ounce, trading at $17.18 on good volume.