RE: Roller coasterAlot of the gold and silver juniors i watch are hanging on nicely, leveling out etc. I still believe this is more a profit taking transition phase for many of them. Hell, even with the drop in gold and silver (which actually hasn't been that bad) the USD has strengthened against almost every currency which offsets the drop a bit.
MTO for example at 940USD gold brings in 1184.00 Canadian @1.26 exchange.
Quite the week, i knew it was going to be volatile. I actually expected it to be more volatile than what we saw.
Profit taking begins, shorters move in, drops become scary, but once the buyers move back in you get shorters covering and we begin all over again. I'll be suprised if we're not back up to recent highs again soon on gold/silver.
Have a great weekend guys and gals.
Nosleep