My humble inexperienced opinion (as this is happening across the gold miners space) on this is that gold had a major run and traders are expecting big pull back. I bought some RRL today and kept some cash for later in case it falls further.
Seems to me that a lot is bought and sold these days on reading charts. I have never been good at picking up bottoms so it may continue being sold (unless we have some positive news) until gold reveres direction.
Putting the trade war aside, world is in a lot of mess and threat of currency wars and negative interest rates should have gold well above current price.
Few years back if there was some trouble in the world (ie. bank failure or country having financial crisis like Greece for example) everyone was in a panic mode. Seems to me that people are becoming immune to it all. And what happened to North Korea? Seems to me business as usual and no longer on the radar.
With respect to RRL there could be something we are yet to become aware of or we don't understand but I hope that selling in the past few days has to do with reversal of the gold price.
This is only in my opinion, not offered or to be taken as financial advice, do your own research.
RRL Price at posting:
$4.52 Sentiment: None Disclosure: Held
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