Daily Market Report 12/15/15

GOLD

Gold remained steady most of the day in anticipation of this week’s Federal Reserve announcement of an interest rate increase. The Federal Open Market Committee (FOMC) is expected to make the announcement tomorrow, following their two-day policy meeting that starts later today. Gold prices in India swung to a discount for the first time in a month yesterday, as jewelers and dealers postponed purchases ahead of the Fed meeting. At 11am PDT today Gold is trading at $1,063, down $1 on slightly above average volume.

SILVER

Silver was relatively stable in the $13.65 to $13.81 range today after a six-day decline and dropping to $13.60 yesterday, its lowest price since 2009. At 11am PDT today Silver is down $0.15, trading at $13.81 on average volume.