Well maybe 2% stop loss. if I carry on the theme of the heading.
GDX down last night 2% overnight which seems a bit over done, maybe some profit taking, but AUD POG is down a tickle from same time, nothing near 2%... AUD drop supported the aussie price. but the surge in the 10 year over night has not helped.
We are likely to see softness for the next 3 days in GDX related values as we see the Jerome Powell, GDP figures, futures contracts expiring, and end of month re-balancing etc, and I suspect that all these factors will weigh on the POG. However, we must remember gold is in an up leg. and with this compression we are likely to see support come in, and create a consolidation zone to produce another base to rally from. So I see this as a pretty good opportunity to accumulate.
RRL Price at posting:
$2.64 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)