I have a view about the shorter’s and what is driving them to short SPR and other gold stocks.
The view of many expert commentators is that generalist investors do not believe in a gold bull market. This is supported by the majority of analysts predicting the POG will fall significantly next year on subsequent years. BUT POG KEEPS ON RISING.
The shorter’s believe that POG is overvalued and so they are shorting gold stocks particularly those stocks that have increased a lot and are in the ASX 200 and 300.
In my view the shorter’s of gold stocks are going to get very burnt as POG is going to keep in increasing - there are many positive drivers of gold. Once the shorter’s cover their shorts we may see a significant increase in gold stocks and SPR as well.
No idea if anyone agrees with my view.
SPR Price at posting:
$1.61 Sentiment: Buy Disclosure: Held
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