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2.3¢ beacon minerals limited

Anyone else notice gold is at its most oversold point in 8 years...

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FishingAndBeer

6,039 Posts.

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03/03/21

19:25

Post #: 51495269
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Originally posted by Breden: ↑

with inflation rate rising on many US stock ETF trackers, the fact that gold is lagging is strange but not concerning. Gold typically tracks and moves very similarly to the rate of inflation with a huge amount of correlation between the two, however gold and commodities in general are always the last thing to move along with the rate of inflation, tracking the inflation rate now we could typically see a 2-4 week delay or even less for gold to follow suit and be on the rise again.

this doesn't mean it's a good opportunity to buy beacon necessarily as the POG doesn't really ever do anything for the company, but with insane price targets for gold being set by the big investment banks, it is worth looking at rather pure gold exposure through an ETF that tracks the POG as opposed to being built up of gold based stocks.

DYOR, I'm just an idiot with a phone and internet connection

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Anyone else notice gold is at its most oversold point in 8 years on the RSI
i get the feeling it will bounce from here and perhaps meet resistance around 2500 over the next few months.

BCN Price at posting: 4.1¢ Sentiment: Buy Disclosure: Held
9 Upvote

2 Great analysis

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