Good morning. Yesterday, China hiked interest rates again by .25 bps – something they’ve said they will do going forward to avoid runaway inflation. So no surprise.
Gold and Silver are getting their groove on now because of renewed fears of inflation. China’s trying to avoid the problem that Big Ben is creating, runaway inflation with a devalued Dollar.
Dollar created a swing high yesterday. It might just linger here for a while, but this is a sign of a potential turn south in the dollar so be aware of this fact…….and consider having at least some SLV or GLD on the books to protect cash.
Meanwhile, the futures are down 5 this AM, so it must be about time to buy. 10 point ranges, new highs. Rinse, repeat.
- R2- 1,328
- R1- 1,325
- PP- 1,313
- S1- 1,316
Trade ’em well and trade the extremes.