Today has been a market wide gold stocks profit taking - as POG had hit USD 3,500 in the spot market and fell 150 dollars quickly. Round numbers, etc, will do that.
I suggest this is all to do with Trumpy trying to do a dance number on Putin, and Europe/Ukraine shouting 'murder'.
Let's see what the rest of the week will bring. Next 3 weeks, till May 15, key period in the markets timing wise (according to some sage people I follow with stellar reputations).
A jaw dropping target of USD 4,600 - USD 5,130 for POG was mentioned by October 2025, IF war escalates in Europe/Middle East - and we will know more after May 15th.
OUCH. Hate to think what would happen with gold stocks, us included, if indeed things got worse in Europe - people's suffering translating into profits for those that hold the "pet rock". AND when I say 'hate', I mean that I will have to fight my inner greedy bastard to try to take some profits, as its a sure thing that after the spike in POG, it will retrace, and our shares will drop as well. Timing that is difficult.
GL ALL
HRZ Price at posting:
6.2¢ Sentiment: None Disclosure: Held
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