Gold prices finished June as the yellow metal’s worst month since November of 2016. Of course, that prior instance took place around the Presidential Election in 2016, as the election of Trump was thought to have brought upon the reflation trade, when the economy would remain strong and the Fed would be able to lift rates.
And lift rates, they did, in the next two years the Fed would hike rates seven times, and eight if we include the move in December of 2016. So, that prior instance of Gold underperforming in November of 2016 proved to be pretty prescient in terms of forecasting rate hikes – did the move that just completed in June of this year do the same?
