@loki Smart man........your timing was right. Like your...

@loki

Smart man........your timing was right.
Like your style.....front running the front runners.

As usual FED Chairman gave a picture of a very healthy US economy........so the traders guessed more rate hikes from FED ( From 3 to 4 this year).......
Reaction....BUY the dollar....SELL gold & miners.
It baffles my mind how many times these traders have to see.....that it ultimately reverses very quickly most probably after the rate hike.
But we have to respect the herd mentality.
Knowing the fact is one thing......guessing people's reaction is another.
In the short run it doesn't matter what I believe it matters what the herd believes.
The one who can guess people's reaction in advance and make his plan is the ultimate smart man.
Congrats to you.

However, I believe rate hikes are bearish for the currency and bullish for currency denominated assets.
Rate hike is highly inflationary. Inflation is bad for a currency.It is in simple words price increase. Price increase means money is buying less. If that was not a fact, Zimbabwe would have the strongest currency in the world.
There will come a time when those front running traders will buy gold and sell the dollar at the slightest hint of rate hike. Maybe those traders need to see 100 times before they form that conclusion.

So once again good timing from your side.