Sell the Rumour, Buy the Fact | 16th March 2017
Gold took centre stage in the last few hours buy rocketing $20USD.
The gold miners had an amazing rally nearing the end of U.S trading:
This is as interest rates were hiked another 0.25%
Now we await the Dutch Election results….
And will somebody please mention the Debt Ceiling? Not being covered by media really.
Note that Gold has hit resistance in USD terms and that Australian gold is now $1582 AUD.
USA is the sentiment driver, so while the “carnage” from yesterday was minimal, today’s rally may be nothing short of breath taking.
Is today a profit taking day?
You’d need to decide on that.
The U.S Dollar has sold off and gold has inversely move up:
However, the U.S Dollar is resting on support:
I would simply move gold miner stop losses up to protect gains.
Cash is good, unless everything else rallies . lol.
“There will always, always be another trade”.