Oval shaped disc hovering over our neighborhood for several minutes, seen by many in the neighborhood in May 1963

In late May 1963 my younger brother came running into the house yelling, "There's a UFO outside!" Our whole family went running outside and up in the sky, perhaps 200 feet, we saw an oval-shaped disc hovering up and to the right of our section of homes.  Daddy told my other brother to run inside and get his binoculars for a better look.  The sun was setting and so what I observed looked like a glowing red/orange disc, while my brother saw a silver disc.  I attribute this discrepancy as my seeing the setting sun mirrored in the shiny surface of the disc.  A large group of neighbors came out to watch as the object just sat there for several minutes.  Finally, the thing zoomed off at a terrific speed, doing an amazing zig zag across the sky before flying out of sight.  Subsequently, in 2017, a local author wrote about this incident in a local history book.