Gold Above $4,000 And Silver Below $53

GOLD

After yesterday’s Fed announcement of no interest rate increase and the press conference, Gold reached a high of $4,077 per ounce. In overnight trading this morning, Gold reached a low of $4,009 before finding bargain buying. Gold needs to move back above $4,100 by the elections on Tuesday to establish a bullish trend.

At 11am PT today, Gold is trading at $4,015 per ounce, down $19 for the day.

SILVER

Silver is showing strong resistance at $55 per ounce. Silver traded today between $51.88 and $54.51 as it continues to try to build a strong foundation for the next leg higher.

At 11am PT today, Silver is down $1.33, trading at $52.20 per ounce on excellent volume.