Loading ...South African Gold and Miners
The canary in the gold mine
While one can never be entirely certain about these things, as they always play out slightly differently, it could well be that the upturn in the Rand gold price and SA gold shares is once again a leading signal for the entire sector. The canary in the gold mine so to speak, only this canary isn’t dying: instead it is a dead canary that is coming back to life.
As a final remark, the upcoming US payrolls data on Friday could well precipitate a correction, given that gold has been rising ahead of the release. If the gold price manages to withstand the data (especially if they are strong), we would rate it as an especially positive sign, but a correction certainly wouldn’t surprise us after the recent run-up. We would like to see the $1,080 level holding firm on a pullback.
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This is VERY interesting!!!!!!
DRDGOLD made its last significant top in 2003 at about 60 dollars at the beginnig of the last gold bull market,then it crashed and now it trade at $2,00 (it gained last week about 25%!!).
If it should go up it could mean that we are at the bginning of a new bull market in Miners!
Be careful !!!! The $60 price is a split adjusted price. DRD has been reverse split few times. I have been following DRD since 2002 and it never traded that high. I have scars to as proof. LOL!!!
But yes miners must have bottom if stock like this can climbed. U R right.
I know very well that it’s split adjusted price,the right price was $6 !
I fear my scars are even deeper than yours!!! 🙂
Anyway this stock have been pure crap for the last 14 years,if this crap can rise the bear market is over!