The Peoples Bank Of China rose thier interest rate by 25 basis points on Dec. 25th 2010.
This was a strategic move by the Chinese government so markets would not be effected as much as if it were done on a normal trading day, due to the fact that Americans were in the middle of the Christmas holiday and there was no activity at all.
Come Monday morning however, stock markets opened slightly down, while precious metals remained relatively stable. Gold and silver are having a small decrease in price while platinum and palladium are enjoying the highest price increases of the day.
This is good news for metals investors, as it is getting obvious that more and more of the general public does not have confidence in the supposed recovery the is said to be going on, and continue to invest in the safe haven of precious metals
Remember, gold and silver are still great buys at these levels when you consider the gold to silver ratio and inflationary adjustment.