GREY:OLEPF - Post by User
Comment by
tony1969on May 12, 2013 11:44am
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RE: All of the big boys such as ABX, GG....
RE: All of the big boys such as ABX, GG.... Gold touched technical support of $1420 at about 10:30 am on friday then came back almost $30 to roughly $1450. The big producers such as gg, abx,nem and au all came back strong to close at highs for the day. Even after that takedown in the morning I continue to think that sentiment has started to change. A similar move in gold like that in the past would barely have moved these huge out of favor stocks. As the market keeps climbing on the back of the FED people are starting to look for bargains and the gold miners are more than undervalued right now. Everyone and their mother hates anything to do with gold in the investment community today but I have a feeling that the smart money is beginning to slowly rotate into it.