The dollar jumped again today as it continues to hit new highs against a basket of currencies. The impact is most seen in commodities like gold and silver. Gold fell today, currently trading at $1,214 per ounce.
As gold falls, so do the gold miners. The gold miner ETF (NYSE:GDX) is trading at $21.00 (-3.75%) on the day, as noted in the Investing.com chart below.
This fall in gold and gold miners is giving investors a great opportunity to buy at a discount. The dollar is extremely overbought on the election of Donald Trump. Today it got added juice from Federal Reserve Chairwoman Janet Yellen. It will pull back. When the dollar pulls back, expect gold and gold miners to jump significantly.
I am a buyer of gold miners here. I expect as much as a 10% bounce on the ETF before Christmas. Get ready to see your portfolio shine.