Equities Getting Crushed Again; Metals Next
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Interest rates are running higher as the Fed proves how worthless it is as they lose control. The game of manipulation is over, and the Fed is being backed into a corner. This is not a new story; the Fed has never been right in their exit and they are going to be wrong again.
The equities are getting clobbered for the third day in a row, and the metals are struggling to stay near the unchanged level. Gold and silver are looking as weak as the markets and should see some selling pressure. They are both down almost as much as the Dow. The cryptocurrencies are getting pounded as well.
Rising rates are creating an opportunity for investors to put their money into fixed income and away from the risk of equities. This is once again proving that the metals are not a safe haven for equities but just a hard asset commodity that everyone should own. We will look to buy when this dip in metals finds support.