Q: Hi Team,
I was surprised today that Goldcorp and other precious metals miners jumped up. G was up over 7%, presumably on news about the rate hike in the US. Klondex, Mandalay, Agnico Eagle and others were also up quite a bit (so it's not company specific). Can you please comment on the correlation between US rates, US dollar and gold miner prices. Seems like gold itself was down slightly. I would have expected gold miner shares to fall.
Thank you for your insights.
Michael
I was surprised today that Goldcorp and other precious metals miners jumped up. G was up over 7%, presumably on news about the rate hike in the US. Klondex, Mandalay, Agnico Eagle and others were also up quite a bit (so it's not company specific). Can you please comment on the correlation between US rates, US dollar and gold miner prices. Seems like gold itself was down slightly. I would have expected gold miner shares to fall.
Thank you for your insights.
Michael