October 30, 2017 -- Gold and silver prices declined last week as Congress passed a budget for 2018 that includes room for tax reduction. The news was optimistic and further reduced interest in safe-haven assets.

Nevermind that any economic stimulus from tax cuts coupled with even larger federal deficits is an excellent recipe for inflation. Few in the markets, outside of beleaguered metals investors, are thinking that far ahead.

All eyes will be on the Fed this week. Most expect the FOMC to forgo a rate hike now in favor of hiking at the December meeting.

It has been a very long time since officials surprised markets, so perhaps we are due.


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