I was told someone sold off 1 million paper claims to gold hence the drop in gold price, which would have also triggered some stop losses and so on. Bit of tree shaking going on, I don't see the price of gold exploding but I don't think it will drop further than $1200 looking at the chart over the past 6 or so months, everytime it has dropped down to low 1200 it has bounced back up higher till hit gets close or breaks 1300 then will drop back with a running average around $1250 range with $1200 being the floor.
All speculative and based on past, if we have any events to scare investors we will shoot past $1300, so we don't know what the future holds, DYOR I am speculating, please also feel free to tell me why I am wrong or what your predictions are. My position is gold will increase in value, or even at current prices I feel SAR will increase in value based on their output and costs look promising compared to other miners.
SAR Price at posting:
$1.09 Sentiment: Buy Disclosure: Held
