Fed rate hike whack! Precious metals was prepared to fall into bear market

The Zerohedge reports, in the dollar index rising scenario, current victims is not the only emerging market currencies, the other biggest victims in: precious metals market.

Wednesday (23rd), Silver Futures in New York fell 1.45% to $16.391 an ounce to close again, its lowest since the past six months, cumulative since Trump (Donald Trump) was elected United States President since, silver has fallen up to about 15%, about to fall into a technical bear market.

Now widely expected, United States Federal Reserve (Fed) to raise rates in December, is already a done deal, according to CME fed Fund rate futures prices implied that Fed December has come to 93.5% chance to raise interest rates, according to the published after the last meeting of the Fed's interest-rate intentions bitmap (Dot Plot), 2017 Fed may raise interest rates again 2 times. Under the pressure of the dollar rising, non-commercial open interest currently on the market (site of large speculative traders) more rapid decline in volume, statistics United Kingdom off Europe, silver, there are about more than 105,000 members, and now the only remaining 64016, shrinking nearly 40%.

ICBC subsidiary ICBC used Bank (ICBC Standard Bank), said Tom Kendall, head of metals strategy, current silver, gold is such a huge decline, mainly US $ reaction increases, and market price.

Looking to the future performance of the market of precious metals, Tom Kendall said, the dollar index's performance, will be the most important key.

In fact, however, current silver not only decreases heavy in precious metals markets, gold had hit a more than 9-month low Wednesday (23rd), international gold prices again fell 1.81% to close at $1189.30 an ounce, today dropped as much as 6.18% since a month.

ICBC subsidiary ICBC used Bank (ICBC Standard Bank), said Tom Kendall, head of metals strategy, current silver, gold is such a huge decline, mainly US $ reaction increases, and market price. Looking to the future performance of the market of precious metals, Tom Kendall said, the dollar index's performance, will be the most important key.