Precious metals are rallying, going against the conventional wisdom that US Fed’s tapering of QE will be bad for gold and silver. continued expansion of the global economy is driving up bullion prices. The latest US data showed a better-than-expected retail sales and jobless claims data. Bullion prices are also rebounding because of excessive pessimism that had gripped the precious metals last year. Over the past 10 days, silver prices on the MCX fell 2.63%, to Rs46,771/kg on 12th March from Rs48,035/kg on 3rd March, but seem poised to rally.