Is that all you got. Market on Fed decision day greatly overcompensated.
Perhaps PM price rises and all equities including PM equities had already priced in a rise thus a drop on the news was understandable if not logical. The size of the drop in PM and PM equities was way overboard though. KL being probably the actual leading gold play now, certainly high profile as a very profitable gold play was hit very hard. In addition if anyone wanted to hit the price of all gold equities to cover out of the money shorts then concentrate on the leader and the rest will follow.
Despite all this we came out battered but not yet beaten.
We got a better quarter than expected just a last week when Eric Sprott mentioned earnings might be 45 cents.
We didn't get any drill results yet from Fosterville but did hear that visible gold was encountered at more than one of their targets there (often an indicator of high grades).
They are determined to find out if they can restart Northern Territories as a multi mine complex.
The 3rd and 4th quarter earnings should be way up because of less downtime due to Q1 flooding at Macassa and higher grade ore at Fosterville.
Nothing has really got worse just a temporary dip in the gold price that will probably end soon if it hasn't already and the gold price is still way higher than just a few months ago. Spot price still over $1400.
Its going to take a much worse storm than that little hiccup to change the direction we are heading which is UP !! BY the end of the year much higher.I bought more and sold nothing even though I'm already over my core holding levels.
Good luck to all longs.