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December 15, 2016

Silver Prices Cratering (Finally)

What’s inside:

Fed raises 25 bps, a bit more hawkish than expected Silver prices react strongly lower from resistance Rejection at resistance and break of channel/bear-flag sends silver towards target

Yesterday, the Fed raised rates by 25 bps as expected and provided guidance for three hikes in 2017 via the ‘dot plot’. (They anticipated four heading into this year, we got two, so we’ll see…) In any event, the overall tone was a bit more hawkish than the market expected, resulting in a strong move higher in the US dollar(DXY) and push lower in precious metals.

In the days leading up to yesterday’s late-day sell-off, silver had been stubbornly trying to trade higher, [...]

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