Imo, we need a solid close above .95 cts to indicate a reversal, and a close above $1.12 to confirm a bottom. Regardless, its good to see a blip upward, hopefully its not just temporary. Those who wanted out will use this opportunity to exit, it will be interesting to see if buying interest will persist for long?
A $40 price target is unreasonable... That would put the market cap at $6.2 billion, which supersedes the value of the in-ground metal by far... Usually, the value is estimated at around one-fifth of the in-ground metal.
Yes, kind of depressing.. Gold was up Monday and Tuesday, yet BAA is down on heavy volume. Doesn't seem logical unless a heavy seller is liquidating or someone is taking short positions? A lot of the smaller miners are just treading water today, despite an up-move in metal prices.