Federal Reserve Raised The Discount Rate By 1/4 Percent

GOLD

Today, the Federal Reserve decided to raise the discount rate by ¼ of a percent. Gold was trading at $1,254 prior to that decision and quickly moved down to $1,246 per ounce. The press conference will come shortly with information on what is planned for next year. At 11am PT today, Gold is trading at $1,245 per ounce, down $4 on excellent volume.

SILVER

Silver was trading at $14.78 when the Federal Reserve information hit the market. Silver quickly dropped to $14.56 and quickly rallied $0.05 per ounce. At 11am PT today, Silver is down $0.02 per ounce, trading at $14.62 on average volume.