Gold and Silver Remain in the Same Range They've Been in Since July
5:39 AM
September 28, 2016 -- Precious metals sold off again yesterday. Last week’s FOMC decision to hold interest rates steady gave big boost to both gold and silver prices initially, but markets have since relinquished all of those gains.
The outlook is a bit muddled. US stocks have been surging, which indicates equity investors are relieved by the Fed’s decision even if metals investors are not. US Treasuries are also rallying and their yields headed lower, another signal that investors are confident rates will stay lower for a while longer. Yet this sentiment isn’t providing any support in the gold and silver markets.
For now metals remain in the same range where they have been mired since early July. Silver is bouncing between $18.50 and $20.50 while gold has held between $1310 and $1370 per ounce.
Live prices at MoneyMetals.com show gold currently trading at $1,326.50 per ounce on the global market, and silver is coming in at $19.18.
The outlook is a bit muddled. US stocks have been surging, which indicates equity investors are relieved by the Fed’s decision even if metals investors are not. US Treasuries are also rallying and their yields headed lower, another signal that investors are confident rates will stay lower for a while longer. Yet this sentiment isn’t providing any support in the gold and silver markets.
For now metals remain in the same range where they have been mired since early July. Silver is bouncing between $18.50 and $20.50 while gold has held between $1310 and $1370 per ounce.
Live prices at MoneyMetals.com show gold currently trading at $1,326.50 per ounce on the global market, and silver is coming in at $19.18.
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