fundamentals, page-16

Updated gold chart below.
Behaved beautifully.
I think we see a good bounce Monday on most gold stocks. SLR was hit hard Friday so hopefully will bounce harder.
For our market the POG has finished up $5-$10 in US trade from where it was trading on Friday afternoon for us.

Gold managed to get right to the bottom of my idea of likely support (1625-1645).
That is, it broke below what I thought was obvious support at 1635 possibly triggering stops but bounced right on 1625.
It then rallied to finish at 1655, well clear of the 1625-1645 support zone and well above Decembers lows. That suggests strength, especially after supposedly bearish words for gold from the Fed just the previous day.
Good sign and backed up by the HUI.
It was only down 1.5% on its low despite gold dropping from their Thursday close of $1661 all the way down to $1625, and then the HUI recovered all losses to finish marginally up. It finished marginally up despite the POG finishing around $6 lower from the previous night for the US market.

I like Blackrock taking a position in SLR.