As it stated in Simple because the risk/reward has peaked and the event they anticipated would happen, turned out to be positive (rate hike).
Article: Gold (Miners) – Buy The Next Rate HikeSource: Energy and GoldOne of the graphs I shared in my previous article, is the one below.
Last week, I wrote an article which covered the a likely gold miners (VanEck Vectors Gold Miners GDX) entry point given by a FED rate hike on the 15th of March.
The next rate hike will be bullish for the USD, gold and bonds.
Both assets have declined quite a bit before every rate hike.
Market Vectors Gold Miners ETF(NYSE:GDX),Market Vectors Junior Gold Miners ETF(NYSE:GDXJ): Not The Time To Buy
according to InvestingHaven’s analysts follow the trends in the gold market very closely, as evidenced by these two recent articles:Buy Gold Mining Stocks?
Meanwhile, the VanEck Vectors Junior Gold Miners ETF (NYSE:GDXJ) closed at $34.69 on Friday, up $1.71 (+5.18%).
From Taki Tsaklanos : Is this a time to buy gold mining stocks?
When it comes to the gold market in particular, we wrote 3 Gold Charts Showing Major Bear Market Test last week and suggested that Gold Investors Watch Yields As A Gold Price Indication.
With gold still in a downtrend, and showing signs this week of further losses, gold miners have visibly leaded the way lower.
collected by :Irax John