September 16, 2020

Gold and silver initially rose slightly after today’s expected Fed announcement to leave interest rates unchanged but have since dipped and are trading at $1,953.50 and $27.05 respectively.  More important was the Fed’s indication that rates will likely remain near zero through 2023 to help reach their inflation target.  Stocks are mixed on the news with the Dow and S&P in the green and the Nasdaq currently down about 0.40%.  The Fed also renewed its commitment to asset purchases to aid in economic recovery, which should help boost equities, at least in the short term.