Interest Rate Cuts Mean Metal Prices Are Rising Again
Posted on December 10, 2007
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The Federal reserve is expected to cut interest rates by 1/4% again tomorrow morning. This will be the third time The Fed has cut the interest rate this year causing more inflation in their attempts to further manipulate the supposedly free market in America. Last week the Bank of England also cut their interest rate. All these rate cuts are contributing to the weakening power of the dollar, but they could be good for you. That is, if you have been paying attention to the, admittedly meager, financial advice I’ve been sharing here and have been converting your savings to precious metals. This morning the New York Spot gold price spiked up around 18 dollars an ounce, and silver prices spiked as well, though not as dramatically.
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