Price of Gold moving sideways with miners making a slight recovery. Will it continue? Or will it tank with the perceived correction looming on the horizon?
There is turmoil in the world right now, with a number of "hot spots" that have the potential to heat up further.
With geopolitical risks mounting, gold stocks are rising in my rankings.
Randgold Resources is a gold stock I just started buying.
There is turmoil in the world right now, with a number of "hot spots" that have a potential to heat up further.
And with geopolitical risks mounting, it is no wonder that many precious metal stocks, and in particular gold stocks, have started to move up.
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Sentiment: Strong Buy
Another DEADCAT BOUNCE, very obvious, and soon to be ERASED in a heartbeat, per the VERY BEARISH gold and silver market.
PS.... I think your price target of $60 is not even close to its BEAR market technical target of somewhere between $10-$12 or lower....if that seems "pessimistic," keep in mind that more people finally are awaking to the REALITY that these useless golds and silvers offer NO flight to safety value during financial storms and international political crises---and that makes them ALL effectively WORTHLESS.
When the Dow breaks through 17,000 some time this coming week, that should massacre the GOLD bubble, that is obscenely overvalued compared to the rest of its ultra bearish sector.
$85 might be a bit too aggressive of a target. GOLD is struggling a bit to hold onto its gains atm. Even as bullish as I am on gold, I'd like to see GOLD reach $84 before any further target.
To be honest, Randgold hasn't performed nearly as well as the other miners. Even when other miners are making substantial gains, Randgold is just barely holding onto its price.