Crazy times with gold going up $30 odd dollars this week and BDR going backwards. The market just isn't buying the rally in gold. RSG hasn't been doing much either and EVN seem to be making slow headway, but its more like watching a snails race as opposed to what I was hoping for.
On the up side this doesn't seem top be BDR specific. I heard mention that the reason for the treading water action is that gold has just nudged the long term down trend and none of the big players are willing to take the position that it will break the downtrend, hence the lacklustre response this week.
If we can continue moving up in GP, at some point the downtrend will certainly appear broken, that would be when the big money might take the bet that things have changed. Up until that point just be happy that the balance sheets are being bolstered and debt being paid off.
It is possible that the market not buying the rally is based on fear that a credit event is imminent, but that is just a vibe I'm getting. Thankfully I have no debt, but if I was hocked up to the eyeballs like most of the country seems to be I would be wearing my brown underpants.
I'm sure that by the end of the month we will have a better idea of where all this is heading.
I hope we close green, I don't want to think about gold over Easter other than to fondle some of my shiny.
- Forums
- ASX - By Stock
- BDR
- Gold price
Gold price, page-11672
-
-
- There are more pages in this discussion • 2,054 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BDR (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online