Daily Market Report 9/18/15

GOLD

Yesterday’s Federal Reserve’s decision not to raise interest rates was very bullish for Gold and Silver. Gold reached a two week high of $1,142 per ounce in early Asian trading this morning. Considering that the Dow has dropped almost 300 points and the U.S. Dollar has fallen versus the Euro, I would have liked to see Gold move above the $1,150 per ounce level. At 11am PDT today, Gold is trading at $1,137, up $12 per ounce on normal Friday volume.

SILVER

Silver has quickly moved above the $15 short term resistance level, reaching a high of $15.46 per ounce. It would be very bullish for Silver to stay above that level next week and establish a new trading range between $15 and $15.50 per ounce. At 11am PDT today, Silver is up $0.23, trading at $15.37 per ounce on average volume.