U.S. Dollar Index Sets a New 20-Year High

GOLD

As we rolled into today’s trading, Gold was holding in the recent trading range as the U.S. Dollar Index set a new 20-Year high (over 111). The Federal Reserve increased the Fed Funds rate by ¾% today, which was expected. Many financial markets sold off after the announcement, with Gold reaching $1,655 per ounce. At 11:15 am PT today, Gold is trading at $1,655 per ounce, down $11 on average volume.

SILVER

Silver continues to show good price support in the face of weaker Gold prices. At 11:15am PT, Silver is trading at $19.30 per ounce, up $0.07 on average volume.