There is a good chance a company like GORO or KGC will get bought out relatively soon because with the price of Gold falling like it has the industry will have to consolidate. Yellen raising interest rates in Sept is very unlikely now that the Market has falling 600 points in the last week. Rates may get raised in December.
As long as the Fed keeps announcing their intention to raise interest rates in September, the dollar WILL REMAIN STRONG, and Gold will NOT bounce. The ONLY chance gold has for a rally would be if ISRAEL were to attack IRAN, and the chance of that happening are SLIM. Gold will settle around the $750 level.
Sentiment: Strong Sell
As long as the Fed says they will raise interest rates in September, the dollar will remain strong, and Gold will be the Pariah. Gold will be under $1,000 an ounce very soon. The only chance gold has is if Israel, were to attack Iran, and I don't believe that is likely any time soon.
As long as the dollar stays strong like it is Gold will not bounce. As long as the Fed says that interest rates will be raised in September, gold will not bounce. As long as Oil is cheap, gold will not bounce. I will get to buy some jewelry at some nice prices though, that is the only plus.
Looks like GOLD will go under 1k per ounce and as long as the dollar stays strong like it is doing, gold will not bounce. The fed talk of raising interest rates only hurts the price of gold, and will likely keep prices down until they raise rates in September
Kerry and Obama, through Israel, and the World under the bus, and PUT THE TERRORIST NATION OF IRAN into the Driver's Seat. Now everyone in the Middle East will race to get THE BOMB.
Gold stocks and GORO rallied into the close if the market was open for another hour then GORO would have been in the $2.90's or above.