What had been holding back gold price and conversely SAR SP was the uncertainty re Fed action.
With that uncertainty out of the way, there should be little resistance to upward momentum in SP (and gold price).
Will be interesting to see what the shorties do. Will they close out their position at open? and I dont have the latest on gross short position, but on 21 Aug 205k shares were sold short. Given that more shares were traded yesterday, the short position is likely to be higher. Therefore in addition to Buys by investors, c500k shorted shares will need to be covered.
hmmmnn... cant wait for the market to open
SAR Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held
