Fed’s Hammer Delivers Another Blow To Gold – Has it Bottomed?

After what looked like the worst may be over in gold, Yellen came out swinging yesterday afternoon. With talons clenched, Yellen delivered her intention for 3 hikes next year, and the news was a wrecking ball for gold prices.
The wall of support built over a month in the Gold Miners Index was toppled, and gold prices slid another $20.00 to close at $1,144 / oz. Unfortunately for gold investors, there has been no reprieve from the selling as of this morning’s open. Gold is currently sitting at $1,128 / oz, and each new low made is like nails on a chalkboard for gold bugs.

This post was published at GoldStockBull on December 15th, 2016.