A bit of a holding pattern this week. The positive is we haven’t...

A bit of a holding pattern this week. The positive is we haven’t really dropped much during this down week for gold like some of our peers have. Just checked then and it seems to be recovering now overseas. The US fed expects 6 more rate rises this year (following yesterday’s one, the first in 3 years).

One thing is for sure, in these poor economic times, the gold price will be traded and sporadic based on the political sentiment of the day, however it will be forming higher lows each month and it won’t be long before there are solid bases and resistance above $2000usd.

$16M in the kitty, lots of assay news and resource upgrades to come. Then further regional exploration and technical studies so Imo, once this newsflow hits we should get a decent re-rate. The cloud surrounding a CR is now behind us which should let us off the leash a bit. Plus further confidence in the gold sector staying bullish will also have a positive effect. I am glad to be in now, definitely not a time to be selling. However we may have to be a little more patient until further news drops and we get a bit more stability in the price of gold.