Full Article: The Fed Dot Plops the Gold Sector
By: David Erfle
The gold sector has been particularly difficult to gauge during the past few months of trade. Gold miner participants have been whipsawed between numerous market catalysts, as the lagging GDX action in relation to the recent gold surge has had investors on edge.
Early last week, mounting geopolitical worries including upcoming elections and terrorist attacks in the UK caused the gold price to rocket towards the $1300 level. The daily breach of the 6-year downtrend at $1280 in the gold price had many pundits calling this a bullish breakout, only to have the sector begin to reverse just before the UK election. The GDX also made a large daily move upwards with the gold price early last week, only to end the week’s trade with a nasty bearish reversal candle when the UK snap election results were announced.
Full Article: The Fed Dot Plops the Gold Sector
By: David Erfle
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