RE:Gold at $2290 this amOh we will get to and blow through the 200 DMA soon. Nearly every other gold stock is now trading at or well above its 200 DMA but not NEM / NGT....Yet. Gee I wonder why that is?
The hedge funds want to play with this one a bit yet around this level before they push it higher. Gold up over $2300 and $23 today as I write this and NGT down .10 cents, yeah OK. The 200 DMA is $38.16 and $51.44 CAD today.
Don't be fooled into giving up your still very cheap NEM / NGT shares. I'm expecting an asset sale announcement soon and that will be a catalyst to move this higher.
My opinion only, please DYODD.
HB77