Rising rates could have big implications for markets, including causing a bear market in gold

If the rise in rates " leads to or is associated with a renewed/sustained rally in the dollar exchange rate, it will have important implications for global asset allocation," warns Michael Darda of MKM Partners. Darda added gold could be in danger, as the higher rates could spark a bear market for the precious metal. Interest rates in the U.S. are at levels not seen in years and that could have massive ramifications across different financial markets, especially for gold, MKM Partners' Michael Darda warned on Wednesday.