Gold Mining Stocks | Aussie Stock Forums


This is what I am watching right now in the goldies showing a break of trend and a clear level to head to.

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All showing a similar pattern of a sustained sell down with the loss of lustre followed by the change of trend.

At this stage ( as with every change of trend) it is uncertain as to whether we will see it stick.

Certainly the MC’s of these companies have become more approachable, but big players obviously aren’t sure of the future prices for gold and whether there will be increases worth chasing based on a return of strength, particularly in the U.S.

One thing that is up in the air is whether people will begin to rethink holding all currency and whether partial gold is a more safe thing to do. I wonder whether the people of Cyprus considered this earlier – or whether having your cash in physical stacks held in a lock box in the bank would protect you from the proposed tax.

Gold miners are currently in a see-saw in my view and it is not clear that the crazy upwards moves that have been expected will actually eventuate. I have been long gold recently and have only seen a $15 – 20 move since Cyprus started. If this was a major consideration, then surely POG would be heading through 1750 – 1800 right now based on real demand exacerbated by a return of large speculators.

 

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