Federal Reserve Indicates Interest Rate Cuts Later This Year

GOLD

At 11am PT today the Federal Reserve delivered a press release that gave a strong indication that they will be cutting interest rates later this year. This caused the stock market and precious metals to rally. At 11:15am PT today, Gold is rallying and currently at $1,354 per ounce.

SILVER

Silver moved with Gold, reaching a high of $15.10 per ounce before seeing some short-sellers. At 11am PT today, Silver is trading at $15.06 per ounce, up $.05 on excellent volume.