I'm not sure I follow that last line Beardy, 'USD should go up, so that means it will fall'.
You're saying the opposite to what should happen will happen?
The reaction in gold will be all about the comments now given the rate move is baked into markets. If the Fed implies they will raise more slowly than the market expects then gold could have a solid move up. I think this is a pretty likely scenario. I also see limited economic data or market action that would suggest could take a more hawkish view than is currently priced in markets.
Of course there is still the possibility of no move. 20% chance of that outcome I think in the market still. On a risk/reward I think it is a decent scenario for gold.
What that means for Medusa is unclear. It's not getting the love of the gold stocks with operations in Australia. It's carving out a decent bottom here at 35-37 cents for 10 days now. Similar to September bottom but on lower volume. Not coincidence that the GFC bottom was 37 cents.
MML Price at posting:
35.8¢ Sentiment: Buy Disclosure: Held
