Are Fed Rate Hikes Near an End? Gold Buyers Think So

Is the Fed nearly done hiking rates? I don't know, but that seems to be the consensus shaping up among some gold investors. Bloomberg tells us...

Gold and silver rose in Asia as some investors bet the U.S. Federal Reserve may be nearing the end of its series of interest rate rises, boosting the precious metal's appeal as an alternative asset.

The Fed is expected to raise interest for a 17th straight time at the end of a two-day meeting starting today, and again in August. Some investors may be betting the central bank won't raise rates more than once or twice more on concern it will slow economic growth

On the other hand, precious metals stocks took it on the chin yesterday (and today in Australia -- again!) so it could still be anybody's game. I'm seeing a lot of support for precious metals at these levels. While a smallish pullback wouldn't be suprising, it would be disappointing to see gold and silver go much lower.

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