Rate Hike Gold and Silver Get Clobbered
Thursday, December 17, 2015 at 07:16PM
Gold Prices

 

Gold prices took it on the chin today as the effects of the rate hike boosted the value of the US Dollar putting downward pressure of the price of gold.

 

Its now all about the frequency of rate hikes and the Feds target levels for those rates. Also note that the Euro, Yen and the British pound are all heading south and as they form a major part of the US Dollar Index they are forcing the dollar to higher ground.

 

The Gold Bugs Index, the HUI lost 7.07% in today's trading session and is now trading close to the '100' level which has been our target for some time. The support level could be penetrated before the year end as the carnage continues.

 

The question still remains regarding hitting rock bottom; this is a subject that is discussed with our subscribers as we ready ourselves for a possible turnaround.

 

Is the bottom really in?

Could there be a final capitulation just ahead of us?

Have you plenty of cash to take advantage of the coming bargain prices?

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