Loading ...I saw those offers too. No way, no how were we going to scream up to 15 on GDX.
No doubt we have to bust above 135 HUI, which should be achievable by year end, but truthfully for any healing to come around these parts we need HUI well above 300.
I honestly think gold rallied today because a rate hike was confirmed. I think when they do raise in a couple of weeks, we’ll rally even harder.
There are still a helluva lot of hedge funds that are left to squeeze that have been sold on the idea that a rate rise will kill gold. IMHO, it will kill the USD instead. One and done.
Have a good weekend.