Regular readers of these market reports will have not been surprised by the sell-off this week ahead of the FOMC’s quarter point rate increase. It took silver into a loss on the year so far in dollars, as our headline chart shows, and gold’s net rise to less than 8%.
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Gold and silver recovered their losses on the week following the dollar rate increase, and in early European trade this morning, gold had risen a net $8.50 to $1257, and silver by five cents to $15.93 from last Friday’s close. Measured in the other major currencies, gold is not looking so pretty, as the next chart shows.
This post was published at GoldMoney on December 15, 2017.