The Fed Funds rate increases in 1983-1984 were preceded by US$ strength but also massive rebounds in Gold and gold stocks. From mid 1982 into early 1983 Gold rebounded by 73% .
The Fed Funds rate increase in 1999 is most applicable to today because it was preceded by US$ strength and steep declines in Gold, gold stocks and Commodities.
The gold mining indices (GDX, GDXJ) have held support and built a base since July. GDXJ figures to close the week in the mid $19s. If history repeats itself with Fed actions then a rebound should begin after the hike and last for a few months. The initial target would be the 200-day moving average ($22) followed by the October high (mid $23) and the 400-day moving average ($27).
That's all for now.
laza.
Gold Technicals Part 4
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Last
41.5¢ |
Change
-0.020(4.60%) |
Mkt cap ! $883.5M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 43.0¢ | 40.8¢ | $3.549M | 8.552M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 305340 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.5¢ | 7000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
42.0¢ |
Change
-0.020 ( 3.43 %) |
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| Open | High | Low | Volume | ||
| 43.0¢ | 43.0¢ | 40.8¢ | 3757896 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| RSG (ASX) Chart |