Silver and Gold are having a time of their cycle as they have become more precious than they were 2 years ago. Silver is trading for $20.44/t.oz as Gold jumped 2.5% this morning to $1,368.79/ounce to both attain 2 year records. This follows the uncertainty cloud in Europe as the Sterling is pounded to 3 decade lows, Italian banking stocks plummet to lowest and global treasuries paying negative yields. Fear has invaded the market as investors exit. Analysts liken this behavioral tendency to a post Lehman Brothers dejavus experience.
Probability of a rate cut by Bank of England has risen between 67.5% to 88.6% in December indicating a need for stimulus and confidence impetus need in the financial markets. The divorce between Britain and the EU is causing more pain that bargained for.
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