2017-12-13 Midweek Market Update
U.S. Interest Rate Hike to Mark a Turning Point for Gold Again?
With the F.O.M.C. wrapping up their final meeting of 2017 later today it will be interesting to see if the expected interest rate hike marks yet another turning point for gold. The yellow metal has been under pressure the last few weeks, but appears to be putting in a solid base just under $1250.00. If this plays out as previous rate hikes have, we expect to see a small initial sell off follow by a strong rally in prices.
Another positive factor for gold is that we are approaching a seasonally strong time of year, with buying in China leading into the Lunar New Year and Golden Week celebrations in February. Traditionally, January and February are two of the strongest month of the year for gold prices, and we expect that to play out again this year.
Crypto Coin Rally Continues
We have accepted Bitcoin for payment for three years, and are now happy to announce that we now also accept Bitcoin Cash, Dash and Litecoin as payment for your orders. If you are sitting on large cains in your crypto coin holdings now is a great time to take a little money off the table and invest in precious metals