I would have expected a lot more profit taking along the goldies today, most are only 1-4% down...
I have a feeling, regardless of the NFP tonight, gold price will remain in tact.
My reasoning :
1. Europe has numerous issues, the biggest being their banks...
2. The "word" on golds emerging bull is out - Funds & Instos are buying...
3. The Banks can take a hit on their shorts & go long...
4. In the current world economical environment, Where, other than gold miners can u make a $$$?
5. The run in my BDR, SAR, EVN, NST, RRL appears solid & sustained...
6. Quarterly reporting & drill results to come, I don't see a major pullback...
7. US rates in the current environment can't rise...
8. Japan & China have their own issues...
9. One months good US NFP results doesn't indicate a "recovery" in the US...
All in my humble opinion.
BDR Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held