Gold & Silver Start Higher But Drop After ¼% Increase In Interest Rates

GOLD

Gold started the day moving above $4,300 and reached a high of $4,361 per ounce. This came after Fed chairman Kevin Walsh finally increased the Federal Funds rate by ¼%. The price of Gold dropped by $20 per ounce right after the announcement.

At 11:10am PT today, Gold is trading at $4,328 per ounce, up $32 on the day.

SILVER

Silver traded today between $63.31 and $65.06 per ounce. After Mr. Walsh's announcement, the Silver price dropped $0.25 per ounce.

At 11:10am PT today, Silver is up $0.70 per ounce, trading at $64.31 on average volume.