Silver Continues Bullish Climb as Federal Funds Interest Rates Predicted to Increase

GOLD

Traders are still focused on what the Federal Reserve will be doing next week in regard to raising the Fed Funds interest rate. Many financial analysts predicted a 1% increase, now traders think that increase will be lower. Gold traded higher in oversea trading, reaching a high of $1,725 before seeing a serious selling. At 11am PT today, Gold is trading at $1,710 per ounce, up $5 on average volume.

SILVER

The Silver price was more bullish than Gold this morning, reaching a high of $19.10 on excellent volume in European afternoon trading. Physical demand is strong, but supplies are limited of many of the popular investment quality coins. At 11am PT today, Silver is up $0.13 per ounce, trading at $18.81 on normal volume.