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Royal Gold, Inc. Message Board

  • steviejshoes steviejshoes Mar 20, 2009 4:29 PM Flag

    Good day today

    Very healthy and not surprising that gold took a breather today. As I pointed out a few days ago, the resistance in the upper $950's came into play. I don't expect the weakness in this area to continue much longer. In fact, I expect gold to resume it's march northward early next week, probably on Monday. The real moment of truth will come when we see how gold handles the $990 zone, as I pointed out on Wednesday. This will be crucial in determining the near term upward potential. I am still holding strong in my opinion that gold will exceed its record high by the end of March. The key for RGLD and most precious metals stocks will be the movement of the metals. RGLD like its silver counterpart, SLW, is very well positioned to move smartly higher as long as metals prices cooperate. I don't think $1200 or even higher is out of the question by the end of June. Let's see what happens.

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