Gold is in a funk at the moment. Lots of negative sentiment, which is usually a good time to buy.
If you think about it, it’s exactly what you would expect in a maturing bull market for equities. Stock prices only go up, I’m missing out, time to invest, gold is dead, bitcoin is the new gold, inflation is dead. Volatility is dead. All my friends are making money, my mechanic makes more from bitcoin than I do working for a year, invest more. Think less, watch stock prices go up, wow, this is easy, invest some more, maybe borrow to invest much more. Watch stock/bitcoin prices go up. Quit job as mechanic and start day trading. So easy...
The bull market will die when there are no bears left and gold is hated. Still some way to go
People are terrible at predicting the future, and forget how quickly things can, and do, change in markets.
To be honest, the width would have to be better to get people really excited. 2-3m @110g would have sparked some interest IMO. EGA is still a low(er) risk investment at these prices and looking forward to the upcoming drilling results.
EGA Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
