Silver Reaching High Of $61.64 Before Finding Sellers

GOLD

As we wait for the Federal Reserve’s decision on a Fed Funds rate cut, Gold is actively trading. In overseas trading this morning and early in the U.S. trading, Gold has traded between $4,187 to $4,219 per ounce. The Federal Reserve just announced a 1/4% cut in the Fed Funds, new range from 3.50 to 3.75%, which was expected.

Gold reacted to this announcement by jumping $10 and then selling off.

At 11am PT today, Gold is trading at $4,212 per ounce, up $1 on active trading.

SILVER

Silver has traded from a high of $61.64 during Mumbai trading and a low of $60.03 per ounce in the U.S.

Demand remains strong, and the depository and exchange availability of Silver is thin.

At 11am PT today, Silver is up $0.15 per ounce, trading at $60.75 on excellent volume.