That rate hike (in June) even if it comes is not bearish for Gold (SPDR Gold Trust ETF (GLD)) nor is it bullish for the Dollar. What happened the last time the Federal Reserve raised interest rates? After a knee jerk reaction we had a huge rally in gold and a big drop in the U.S. Dollar.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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