November 12, 2018 — Stock markets rallied following last week’s midterm elections and precious metals prices fell.
The idea of gridlock in Washington, the Congress split between Democrats and Republicans, was well received on Wall Street. Conventional asset markets have often done well when neither party has control and politicians are constrained.
By the end of the week, however, traders began to worry. The Federal Open Market Committee reiterated its commitment to raising interest rates, and watchers expect officials there to deliver the next hike following the December meeting.
The DOW lost 200 points Friday, and the NASDAQ was hit even harder in percentage terms, down 123 points on the day.
Oil prices have been in sharp decline over the past month. West Texas Intermediate crude has fallen 22% from its highs in early October and that also seems to be weighing on metals prices.
Check out live precious metals prices here:
Originally Posted Here: $GLD and $SLV Prices as of November 12 2018 @moneymetals