Gold & Silver Sell-Off On Fed Rate Cut

GOLD

This morning, as expected, the Federal Reserve announced a quarter-point cut in the Federal Fund rate. The Fed also stated they expect 2 additional cuts in 2025. In the last Federal Reserve announcement, they stated four cuts in 2025. Gold traded lower on this Fed announcement, reaching a low of $2,625 per ounce.

At 11:15am today, Gold is trading at $2,620, down $30 per ounce.

SILVER

Silver fall on the Fed statement, testing the key $30 per ounce support level.

At 11:15 AM today, Silver is trading at $30.02 per ounce, down $0.63 on average volume.