Daily Market Report 12/13/16

GOLD

Another relatively quiet morning as Gold is slightly down on this day before the Fed releases an update about a possible rate hike. According to the market, the feeling is that the Fed should consider raising rates slightly. Typically with rate hikes we have seen in the past, Gold initially declines, but then goes higher in the long run. If Gold dips it may present a good opportunity to add to your positions as Gold is still up more than 10% this year in US Dollars (more in other currencies). At 11am Gold is trading at $1,156 down $7 on average volume.

SILVER

Today Silver dropped below the $17 level again, which it has done several times over the last week. I’d like to see a more consistently bullish market in the short term, but with the Feds’ news tomorrow, we’ll see how that impacts the market. At 11am Silver is trading at $16.88 unchanged on average volume.