When interest rates rise, foreign traders buy dollars to invest in dollar denominated instruments and to receive the higher interest. As dollar rises in value gold price (GLD) declines because it takes fewer of the more valuable dollars to buy an ounce of gold.
Dr Wish, just reviewing your prescient warnings, and was wondering where do you source your data from? For instance, the new highs and lows?
also, how do you track the 10 day results of the new highs or lows?