Janet Yellen made her last big move today as FED Chair and raised the benchmark federal funds rate to between 1.25% and 1.5%. The same thing happened last year and the year before that. Each time the FED raised rates, silver and gold jumped higher into January and February. It's quite possible a real rally in precious and semi-precious metals is now under way.
Who ever said higher rates was bad for gold? Gold jumped about $15 dollars higher today and is now at $1254.80 while silver, always tagging along like a satellite did the exact same thing. Silver jumped back above $16 after being battered the last few months with record shorts against the metal.
After seeing how Bitcoin has performed this year, could the precious metals in turn be poised for a record breakout in 2018? We shall see...
Courtesy www.kitco.com
