Gold Is Beating Everything Since the Fed Raised Rates

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Fed Raised Rates

Gold Silver Reports – Gold Is Beating Everything Since the Fed Raised Rates – Gold’s outperformed most major assets since the U.S Federal Reserve last month raised interest rates — even bitcoin.

“Since the December hike, gold is beating stocks, the dollar and bitcoin,” Bloomberg Intelligence analyst Mike Mc-Glone wrote in a note. “Unless greenback weakness reverses, gold should shine.”

The metal’s sparkling performance in the face of tighter rates, though counter-intuitive, has become the norm. Gold prices have been turning higher soon after the Fed raises rates ever since the global financial crisis.

Read More: Gold and Copper May Have More Room to Run in 2018, Bank of China Says

Since Dec. 12, the day before the Fed moved, gold climbed 5.7 percent to $1,314.36 an ounce, last week touching the highest level in three months. The S&P 500 Index gained 3.1 percent in the same period and bitcoin was down 14 percent. Gold’s advance was driven by the dollar, which fell 1.5 percent.