Looks extremely oversold and with no debt and the gold price likely to strengthen after poor US jobs figures (which equal more crazy money printing) every broker will be saying buy gold soon....do the opposite of brokers and you never lose in the long run!
Thrown the towel in this morning with a big loss, ive been patient enough but the dividend is now to high for any miner and if they cut it or suspend it it will get another massive correction (down) not up
I think we are at bottom or very close to bottom now for gold equities. For the first time I am confident we have hit a turning point. The movement of the last few days inspite of the gold price suggest buying are starting to come off the fence.
Gold will end the year at $1800+ and ABG will end the year at 350p. Time to be bold if (unlike me) you have any firepower left. See my post on POG.
Well lets hope so but calling a bottom on this has caught out a lot of canny traders, A lot of it is sector driven as even the parent company Barrick has tanked to 52 week lows. We need some good news from somewhere to stop this rot.
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