PGO has dropped off the bat of a strong USD and with the Federal...

PGO has dropped off the bat of a strong USD and with the Federal reserves plan to wind up their balance sheet starting in September to increase inflation within the country so they're able to raise interest rates at a faster / more sustainable rate.

The balance sheet stands at $4.5 trillion and is composed mostly of Treasury's and mortgage-backed securities.

The Fed has embarked on six such reduction efforts in the past — in 1921-1922, 1928-1930, 1937, 1941, 1948-1950 and 2000.

Of those episodes, five ended in recession, according to research from Michael Darda, chief economist and market strategist at MKM Partners. The balance sheet trend mirrors what has happened much of the time when the Fed has tried to raise rates over a prolonged period of time, with 10 of the last 13 tightening cycles ending in recession.

Market depth & share prices have thinned across most gold miners on the ASX since the drop in the POG, I'm surprised there hasn't been more movement in PGO's share price with the annual report being released last week.