Gold & Silver Rally Big on Fed's Nervousness, Weaker Dollar

December 1st, 2022 Comments

Gold and silver have continued to show strength in recent days, with gold up nearly $30 and silver up a dollar yesterday and additional gains today.

The stock market is also rallying on news yesterday that Federal Reserve Chairman Jerome Powell is losing his nerve to continue rate hikes.

The Fed is nervously eyeing the housing market downturn, and tightening financial conditions have increased the risk of more financial accidents in the aftermath of last month's FTX and crypto industry blowup.

With the Federal Reserve note dollar finally now weakening against the world's other fiat currencies, the headwinds experienced by precious metals throughout 2022 have abated.

Gold and silver are now firmly on a bullish footing.

Across the retail bullion market, supply constraints have eased in recent weeks and premiums are coming down.

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