Gold and silver are in bear markets. Why? The market-perceived reaction by the Federal Reserve to quash inflation by raising interest rates. Whether or not the Fed is ever successful at bringing inflation down is immaterial – the market believes that the Fed will be successful, and the market is selling gold as a result. Those who disagree with the price action of the market itself will do so at their own peril over the coming years. Precious metals investors should temper their expectations for higher prices, and take appropriate defensive action. Gold Breaks Lower Below is the chart of gold from 2003 through ... (full story)