On the 23/6 the rally kicked into gear from a base of about 49 cents. SP then rallied to a recent high of $1.18 representing a 69 cent move. I have the 61.8% fibonacci retracement level @ 75 cents (1.18 - (0.69 x 0.618)). From a technical perspective this may be support.
Fundamentally, sentiment has turned against the gold sector. IMO this will be short lived once the market realises the fed will maintain a low IR environment for the forseeable future.
For the above reasons I am topping up here. DYOR. Good luck to all
BLK Price at posting:
77.8¢ Sentiment: Buy Disclosure: Held
