>>The trouble Hobo is that if the price of gold goes up, SLR share price could really fly, particularly as it is supported by all the good news that has come out. In my experience with the gold price, particularly in AUD, its a 50/50 call which way its going to move. There are so many posters on HC, who for one reason or another take a view on the movement and do so with authority. But from what I can see, there are so many factors impacting the gold price and the AUD/USD exchange rate, not too mention the US manipulation of the gold price, that its impossible to predict which way its going to move. A lot like being at the casino, in my opinion. ****************
I agree with most of what you're saying iamtheoracle, especially that SLR could fly, but like last time unless it's supported by the gold price I don't think any moonshots will hold.
I think the historical seasonal weakness in gold at this time of the year is certainly reason enough to tread cautiously. There is still risk of gold heading lower in the short term and I would prefer to see gold solidly over $1000 before putting too much $ into goldies.
SLR Price at posting:
69.0¢ Sentiment: Hold Disclosure: Held
