Daily Market Report 12/16/15

GOLD

Gold trading remained relatively stable today as the Fed announced a 0.25%-0.50% interest rate increase; the first rate increase since June 2006. The Fed also said they will implement gradual increases over time going forward. Gold traded in the $1,061 - $1,077 range within minutes of the Fed news release. This range is not substantial as the Fed news did not come as a surprise and was expected by traders. At 11am PDT today Gold was trading at $1,072, up $9 on above average volume.

SILVER

Silver followed Gold’s lead after the Fed news announcement, trading in a $13.99-$14.25 range. Silver also remains relatively stable on this expected news. At 11am PDT today Silver was up $0.38, trading at $14.19 on above average volume.