What is the PATTERN of gold price movement on the day that the Fed raises interest rates?
Here are the last six (6) rate hikes and the dates.
If the triangle is GREEN, then the price moved UP and CLOSED UP on the day.
If the triangle is RED, then the price moved DOWN and CLOSED DOWN on the day.
On 6/14/2017, the price moved UP initially, then traded DOWN and CLOSED DOWN, so I put two triangles there.
The dates are:
1. 12/16/2015
2. 12/14/2016
3. 3/16/2017
4. 6/14/2017
5. 12/13/2017
6. 3/21/2018
I drew in an interesting pattern that I see the market is rallying despite the fear that "carrying costs for holding Gold are rising".
We can continue this research into past cycles, but the recent past reveals no pattern other than a "Generally rising price of gold."
Cheers,
Tim West
3/21/2018 9:44PM EST
Here are the last six (6) rate hikes and the dates.
If the triangle is GREEN, then the price moved UP and CLOSED UP on the day.
If the triangle is RED, then the price moved DOWN and CLOSED DOWN on the day.
On 6/14/2017, the price moved UP initially, then traded DOWN and CLOSED DOWN, so I put two triangles there.
The dates are:
1. 12/16/2015
2. 12/14/2016
3. 3/16/2017
4. 6/14/2017
5. 12/13/2017
6. 3/21/2018
I drew in an interesting pattern that I see the market is rallying despite the fear that "carrying costs for holding Gold are rising".
We can continue this research into past cycles, but the recent past reveals no pattern other than a "Generally rising price of gold."
Cheers,
Tim West
3/21/2018 9:44PM EST
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Another rate hike (0.25%).
Another rally in Gold.