$GLD and $SLV Prices as of February 20 2018 @moneymetals
9:23 AM
February 20, 2018 -- Markets reopened in the U.S. today following the President’s day holiday. Gold and silver sold off in overseas trading yesterday, giving back some of last week’s gains.
The U.S. dollar suffered last week amid concerns over higher inflation and gold and silver were among the beneficiaries as investors sought to hedge. But the dollar strengthened in global currency markets Monday.
The NASDAQ finished its best week since 2011 and the other major indices are well on their way to recovering losses from early February.
Anyone having trouble explaining either the dramatic sell-off or the rapid recovery in prices is in good company. The movements certainly cannot be tied to any particular news event.
Two weeks ago we were told the fear of rising interest rates had spooked the markets. Perhaps traders thought that one through and determined just how unlikely it is for the Federal Reserve to stand by and watch if the “recovery” is threatened.
The next FOMC meeting will be held next month and many Fed watchers predict officials will deliver the first of the 2018 hikes then. Given the recent volatility in markets, and the concern over rising rates, the stakes are likely to be higher than usual.
Check out live precious metals charts here:
https://goo.gl/jCd5h8
The U.S. dollar suffered last week amid concerns over higher inflation and gold and silver were among the beneficiaries as investors sought to hedge. But the dollar strengthened in global currency markets Monday.
The NASDAQ finished its best week since 2011 and the other major indices are well on their way to recovering losses from early February.
Anyone having trouble explaining either the dramatic sell-off or the rapid recovery in prices is in good company. The movements certainly cannot be tied to any particular news event.
Two weeks ago we were told the fear of rising interest rates had spooked the markets. Perhaps traders thought that one through and determined just how unlikely it is for the Federal Reserve to stand by and watch if the “recovery” is threatened.
The next FOMC meeting will be held next month and many Fed watchers predict officials will deliver the first of the 2018 hikes then. Given the recent volatility in markets, and the concern over rising rates, the stakes are likely to be higher than usual.
Check out live precious metals charts here:
https://goo.gl/jCd5h8
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