The canary in the gold mine <\/p>\n
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\u2019t dying: instead it is a dead canary that is coming back to life.<\/p>\n
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\u2019t surprise us after the recent run-up. We would like to see the $1,080 level holding firm on a pullback.<\/p>\n
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