More wet weather could be insight for BLK and other gold miners this week, hopefully it doesn't eventuate for anything substantial.
http://www.news.com.au/technology/e...SF&utm_source=News.com.au&utm_medium=Facebook
The main reason for the recent increase in the POG today is based on the weaker U.S. macro data, increased global uncertainties, and lower U.S. dollar, however BLK is currently down for the day from unfavourable market sentiment, until the meeting with the FED in June on interest rate decisions I see gold trending lower hovering into the $1200 to $1220 range until the decision then slowly rising into September where I think it will begin a big climb.
I don't hold any positions in BLK, the potential for the share price going a lot higher 10 to 20 percent in the near term is there but BLK will be plagued by unfavourable market sentiment for atleast the next 6 months and will mostly depend on the POG trending higher which won't solidly start until September in my view, what's your opinion?
Sunny.
Mostly sunny.
