Gold & Silver Prices Down On Strong GDP Number

GOLD

A strong US GDP number for the 2nd quarter took the gold price down to $3,287 per ounce earlier today. However, the Federal Reserve just announced that the Fed Funds interest rate will remain the same. The news conference that follows will provide more information.

At 11 am PT today, gold is down $29 per ounce, trading at $3,299 on heavy volume.

SILVER

The silver price was hit particularly hard, dropping to $37.41, due to the strong GDP number. The silver price is holding at $37.60, awaiting the Federal Reserve news conference.

At 11 am PT today, silver is trading at $37.57 per ounce, down $0.65 on very active trading.