Daily Market Report 9/21/16

GOLD

The Gold price jumped $10 this morning after the Bank of Japan announced they will be introducing a zero interest rate target for ten-year government bonds. With most of the world’s largest central banks going to zero or negative interest rates, it will be very difficult for the Fed to increase interest rates. The Federal Reserve stated today that they are not raising interest rates now and have lowered their projections for future rates until 2019. At 11am PDT today, Gold is trading at $1,326, up $11 per ounce on active volume.

SILVER

Silver moved up $0.50 per ounce in early Asian and European trading on the Bank of Japan announcement. After the Fed announcement, Silver held its increase as trading volume increased. At 11am PDT today, Silver is up $0.50 per ounce, trading at $19.70 on excellent volume.