Gold Rallied After Today's Federal Reserve Announcement

GOLD

Gold’s decline continued today, reaching a low of $1,904 per ounce. Today the Federal Reserve announced a 0.25% increase in the Fed funds rate, which was anticipated. Gold’s initial reaction was to rally from $1,906 to $1913 per ounce. At 11:05AM today, Gold was down $16 per ounce, trading at $1,912 on excellent volume.

SILVER

Silver sold-off with Gold, breaking below the key $25 per ounce support level, and reaching $24.42 before finding bargain buying. Silver rallied with Gold on the Fed statement, reaching $24.72 per ounce. At 11:05AM today, Silver was trading at $24.70, down $0.39 on good volume.