Should the comparative hold prescience today, long term interest rates are cresting for the year and are about to roll-over and retrace a majority of the explosive move that began this spring when the Fed initially floated the idea of a taper.
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While we recognize that the causal and kinetic backdrop that drives certain asset relationships is a moving target to appraise, a declining rate environment would likely provide a more prevailing tailwind to the precious metals sector going forward.
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* Subsequent overlays and renderings completed by Market Anthropology