Gold & Silver Moving Lower On Fed Announcement

GOLD

Gold stayed above $4,300 per ounce during overseas trading this morning. When trading moved to the U.S., Gold moved above $4,350 on excellent trading volume. The Federal Reserve just announced that it will leave interest rates unchanged and remove the easing bias.

At 11am PT today, Gold is trading at $4,330, down $10 on average volume.

SILVER

Silver reached a high of $71.67 this morning before the Federal Reserve announcement. After the statement, Silver moved lower and broke down below the $70 support level.

At 11am PT today, Silver is down $0.40 per ounce, trading at $69.85 per ounce on normal volume.