Your timing of selling today might not be very effective.
If you took profit that's fine.
Thanks for gifting me some to add to my SLR holdings.
Gold is on the verge of a major breakout above 1350 and possibly 1400.
Vice versa USD INDEX on a major long term downtrend.
Unlike you, I welcome US rate hikes.
Rate hikes are inflationary and highly bullish for Gold, negative for the currency.
It has always happened that way and has been happening since DEC 2015.
But the Media always tells otherwise.
FED resumed rate hikes and Gold lifted from the US$1050 base.
More rate hikes means currency buys less, therefore value of that currency goes down which is reflected in the exchange price. Gold and other dollar denominated commodities stand to benefit.
Anway, I was a happy SLR buyer today.
SLR Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
