Bring on the rate increases …please ! Unfortunately no matter how good a gold mining CO's quarter, what they hit on drilling, what their resource upgrade releases say, etc. ..., gains will be short-lived. Imo.
all the Feds chatter about tapering and raising rates is serving to let the steam out of the general markets and cause investors to continue to pass on putting money into gold equities. This despite the underlying problem of inflation that is in danger of getting out of control ( ie Fed behind the curve)
The best thing that can happen for gold is for the Fed to begin with actual rate increases ( ie begin actual tightening vs talking about it) ...at which point ...
the general markets might finally and legitimately go into panic mode ( as opposed to a " buy the dip" mentality following brief and small corrections)
It's at this point ( true market panic) that the Fed will lose their nerve and bow to political pressures. Or, at the very least the market will realize, once and for all,that the inflation train has left the station and they cannot bring it back without draconian (ie impossible tightening) measures.
THEN, gold will react in the way we all hope it will - and bring gold equities with it.
I don't see any other way in the short term.
So please Mr. Powell ... start to raise rates.. and sooner than later please.
MM