This is a real tough time for the gold miners as they wait for the Federal Reserve to make a decision regarding a rate hike. As the above chart shows the miners have been battered over recent years with the HUI hanging onto the 100 level.
There isn’t a lot we as investors can do about it other than listen to the speculation, analysis and spin that swirls around the markets like a London fog.
We have stated our position and have nothing to else add other than second guessing the Fed is a dangerous game to play.
Sit tight for now, we will know by the end of the week just what the Fed have decided and how the markets are reacting.
Will a rate hike effect gold prices?
Are the miners about to capitulate?
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