While the markets may be worried about the effects of a Federal Reserve interest rate, there are still a number of factors that can still support thegold marketand bullion-related exchange traded funds. From a macro viewpoint, global central banks have devalued their currencies through loose monetary policies, political risks have increased safe-haven demand and mine supplies have peaked. Stock fundamentals like cost deflation across the mining industry, share valuations below long-term average and rising M&A are all supportive of the miners space as well.