Gold price should break through $3000usd tonight in overseas trade IMO. Once that takes place, it could quickly re rate a lot higher IMO. A lot of effort has been put into capping it below $3000usd in the past 3-4 weeks. You would think they have played all their cards and once it is through, it is going to be hard for them to reposition and create further ceilings in the price. Not to mentioned how amazing the gold price is going in AUD! Up over $100aud overnight. We are now $1200 above the modelled prices of $3600/oz. The profits are absolutely huge right now.
There is a lot of gold related news flow in the pipeline so we should benefit enormously in the months ahead. All we need now is the gold production related newsflow to ramp up for HRZ. We are well overdue for this IMO. It is nice to see the share price stabilise and hit 6c today. Some pretty good volume and most of the major sell lines have been absorbed. There now appears to be some nice gaps on the way up, so if the newsflow increases next week, it is very possible to get some major gain days 10-20% imo.
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