While gold and silver traders are not dancing in the streets, they are quietly rejoicing. Their assumptions, knowledge, and expectations that both gold and silver have been oversold and undervalued were greatly rewarded today.

As anticipated the Federal Reserve concluded the July FOMC meeting with an announcement that they will raise rates by 75 basis points or 3/4%.

Currently both spot gold and futures are trading fractionally lower on the day. However, this is deceiving as market participants have been actively moving gold higher.