TSX Venture Exchange and Gold
A more hawkish than expected Federal Reserve, predicting 3 more rate hikes in 2017, put additional pressure on Gold Wednesday-Thursday with a drop below $1,150 that temporarily reversed the recent uptrend in the Venture. For the week, the Index fell 14 points to 735 but remained above its November low of 717. With tax-loss selling season ending shortly, the Venture is on the cusp of an historical period of seasonal strength that kicks in during the 2nd half of December and typically continues through the end of February.
Though there are some uncertainties around Gold’s immediate fortunes, there are multiple sectors where speculative investors can make money in the days and weeks ahead.
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just because we get a washout doesnt mean the trend has to change afterward… the market is as the market does..
Comment by Jeremy — December 18, 2016 @ 7:26 am