This sounds like a clip from “Austin Powers in Goldmember.”

(Bloomberg) Gold’s outperformed most major assets since the U.S Federal Reserve last month raised interest rates — even bitcoin.

Metal outperformed major assets since day before Fed raised rates

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“Since the December hike, gold is beating stocks, the dollar and bitcoin,” Bloomberg Intelligence analyst Mike McGlone wrote in a note. “Unless greenback weakness reverses, gold should shine.”

The metal’s sparkling performance in the face of tighter rates, though counter-intuitive, has become the norm. Gold prices have been turning higher soon after the Fed raises rates ever since the global financial crisis.

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Since Dec. 12, the day before the Fed moved, gold climbed 5.7 percent to $1,314.36 an ounce, last week touching the highest level in three months. The S&P 500 Index gained 3.1 percent in the same period and bitcoin was down 14 percent. Gold’s advance was driven by the dollar, which fell 1.5 percent.

It is time for a schmoke and a pancake.

Yellen: “I love gooooold!”

Janet-Yellen-with-gold-bars

Goldmember