Silver Finds Crucial Support at $63-$60 Ahead of Potential Rally

The last time the Federal Reserve raised interest rates in 2015, most traders expected metals to fall. But instead of plummeting, silver rallied around 50% over the next seven months.

This past month, the Fed delivered its first rate hike of this cycle, and silver is now sitting at a key level - between $63 and $60 - that Kitco had previously identified as crucial support.

The uncertainty surrounding the Fed's decision was what changed in 2015, not the decision itself. Once the market stopped guessing about the Fed's actions, money began flowing back into metals, with gold rallying 31% and silver rising even higher.