Loading ...Kudos to Deer79 for keeping the faith, and Mr. Copper if he called the bottom.
Seems currency markets may be turning into a mess, nonetheless the Fed had to keep us down on their appointed days, Fed meeting and Jobs report.
It is very early, but silver up 2% looks strong, gold up $16 – nothing to write home about, but hopefully the bleeding has stopped. Shares firm in premarket. It’s early though.
Charts definitely make most of this stuff a good place to bounce as GLD and SLV are still above their 50 and 200 dma’s. Overbought worked off, RSI’s 50 and 46 respectively.
Charts of shares are all over the map. NEM has yet to have the 50 cross the 200 dma. Others like GFI, GOLD, KGC have already and are holding.
BTG looks incredibly cheap to me, chart looks muddy but this is a good spot for it to bounce. They pay dividends, now at 6.5%. Canaccord Genuity has a price target of $5.48 USD, better than a double. DYODD though.
KGC announces earnings tomorrow, they are already expected to beat, so that might be factored into their price already. They’ve outperformed, so I don’t know. Probably depends on what the metals do – as always.
Long way to go yet, we’ll see.