the gold COT is much less bearish now than what prevailed back then, and I expect sentiment is also already at a lower level.
Indian gold imports should start to pick up in August as they get closer to their festivals, so long as the Monsoon rains are good (which is expected).
But it could just be a sluggish jump in the gold price and then a downhill run from sometime in October into December as we get closer to the next FOMC rate hike.
It seems the only near term hope BDR shareholders have in respect to the June quarterly is if they have been processing a lot of higher grade ore to bump up production and lower costs. Will be interesting to hear how their plant expansion plans are going and if they can fund this without doing another dilutve CR.
Good luck all.
loki (am out for now, but continuing to monitor BDR)
BDR Price at posting:
20.8¢ Sentiment: None Disclosure: Not Held
