Gold Holding Above $4,000 Per Ounce

GOLD

This morning in overseas trading and at the opening of U.S. trading, for the first time in three trading days, Gold stayed above $4,000 per ounce. Gold traded today between $4,027 and $4,071 per ounce.

The Federal Reserve just announced that they are leaving interest rates unchanged in October. The market feels they are likely to increase rates in December. This Fed news was expected, and the Gold price dropped about $10 within fifteen minutes after the announcement.

At 11:15 am PT today, Gold is trading at $4,034 per ounce, down $25 for the day.

SILVER

Silver isn’t being helped by Gold price support. Silver reached a low today of $53.36 and $54.66 per ounce. The Silver price wasn’t affected by the Fed's announcement.

At 11:15 am PT today, Silver is trading at $53.53, down $0.87 for the down on average volume.