Daily Market Report 9/16/15

GOLD

Gold rallied this morning after the U.S. Labor Department said that the consumer price index fell 0.1% in August. This surprise drop in U.S. inflation has complicated the Federal Reserve’s decision as to whether or not to increase interest rates for the first time in nearly a decade. Gold broke out of its recent tight price range, reaching a high of $1,123 per ounce. At 11am PDT today, Gold is trading at $1,120.50 per ounce, up $16.50 on excellent volume.

SILVER

Silver moved higher this morning, along with Gold, reaching a high of $14.97 before sizeable selling appeared ahead of the $15 resistance level. Silver is showing excellent demand and trading volume today. At 11am PDT today, Silver is up $0.58 per ounce, trading at $14.92 per ounce on heavy volume.