Richard's Thoughts on Making Money
Oh my gosh! The big story of the day is Fed head Janet Yellen averring that an interest rate hike in the next couple of months "may be appropriate." As if that hasn't been the assumption by investors around the world for the last week or two already! But apparently it's semi-official now, so the dollar rallied and bond prices dipped slightly, right on cue.
European and Asian markets were up modestly in advance of Yellen's momentous announcement. Accordingly, the Global Dow gained 0.04% as overseas investors awaited her comments.
"Be careful what you wish for," right? We wanted a pullback in the precious metals and boy have we got one. Gold logged its 8th day in a row of lower prices, and is down more this week than any time since the bear market days of November. Not to mention its losses last week. Key support levels are quickly approaching for ... Log in or subscribe to continue reading.
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