So it looks like the super smart hard & fast traders of Wall...

So it looks like the super smart hard & fast traders of Wall street have wised up.
The rate hike was all but certain and generally expected by the market.
They didn't shorted gold hard before the rate hike and they didn't shorted the miners as much this time.
Gold had already started rallying before the rate hike and another 10 dollars after the rate hike.

I say it again......Rate hikes are bullish for Gold and bearish for the currency.
What happens before and after are all games to make money. But the big macro picture is as the US FED raise rates, the dollar will weaken.....commodities will be priced higher in dollar terms.

As I have said before there will come a time when these super fast traders will start buying gold and short the dollar at a slightest hint of a rate hike. That's coming.

But old bruised BDR bulls don't have to get too excited yet. As there won't be any rush to buy BDR shares. I really don't think it will cross 10c until this merger things comes into effect. Yes, in the long term it might be a good buy at this level. That is the reason I am not buying and not selling either, just holding my units.

Van Eck still buying as I checked this morning.
But there has to be someone else who have absorbed all the selling. That party hasn't showed their hands yet......Or they might just want to remain under the 5% threshold. So no one will know what they are doing. There has to be multiple of them to remain under 5%.

I will be careful to buy any miners today, as like in past they used to be heavily shorted before the rate hike and covered after the rate hike. This time they have been marching higher in the face of rate hike. So may be the rules of the game are changing. Buy before the event and sell after the event.

I listened to Jerome Powell's press conference today. I have to say he is very different from all the other past FED president. He speaks plain english, doesn't mince words in a long & winding complicated way, straight forward answer. Perhaps he is the first FED chairman to not have an economics degree or PHD.
To me he looks like a practical hands on person. As per his indication 2 more hike this year, 3 hikes in 2019 and 2 hikes in 2020.

So two more rate hikes in 2018 might see gold end the year at the upper range of US $1360-1400.
I am very comfortable gold staying above 1300 for all of my miners.