After Interest Rate Hike Commentary

This afternoon at 2PM EST, the US Central Bank stuck to the script, and raised interest rates by the consensus 75 basis points and did not surprise with a 100 basis point hike as I thought was a possibility. However, even more important than the actual interest rate hike seems to be the media’s obsession with the Fed Reserve dot plot, even though US Central Bank Chairman Jerome Powell has repeatedly downplayed the importance of the dot plot. Here’s what I think is ahead for gold and silver for the rest of this week and the next week based upon the perception, not the reality, of this dot plot. Jerome Powell has stated the dot plot is not important. But I say it is, especially regarding how it will affect gold and silver prices. Confused yet? Keep reading and you will understand.