October 16, 2017 -- Precious metals finished last week with healthy gains. Gold managed to re-take the $1,300 mark and silver rose 3.4% ($.57/oz) – not too shabby. The move up resulted in a 4-week high for the monetary metals.

It was a relatively quiet week in the news. The U.S. dollar was down a little but not a lot, and Janet Yellen reiterated the Fed's apparent intent to hike rates in December.

Jim Rickards offers a contrary view: "Reality is catching up with the Fed. They will respond by taking a 'pause' on an interest rate hike in December. This is the opposite of current market expectations."

The S&P 500 is on the verge of setting a new record for the longest streak of trading days since a 3% price correction. The last time stocks traded 3% or more below their recent high was Nov. 7th of last year – 236 trading days ago. The all-time record was set in January 1995 through January 1996 when markets ran without stumbling for 241 days.


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