Gold price is creeping up towards 1200 (currently 1197). I think it will move up quickly in the short term once 1200 is water under the bridge. Share price should keep going up accordingly.
Now I have been doing some reading up on the drivers of the g price and one theory which is supported by some correlative evidence (from the 1970s) is that rising interest rates are not necessarily bad for the g price. The theory is that g stocks are an alternative asset class to conventional investments such as stocks. When shares are suffering buyers stock up on g.
So if the fed raises interest rates it will most likely be negative for the broader share market which means g will come into vogue.
So there are two conflicting views one being g is going up because of the "hinted" hold on interest rates. The other is probably that the US share market has risen so hard that early bird bears are getting in before the inevitable rout that will come and in any case won't be helped by rising interest rates.
Might be good if you are currently g only.
IMO etc
MLX Price at posting:
$1.22 Sentiment: Hold Disclosure: Held
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