....watching the USA we see GFI down 2.2%,Harmony and Anglogold joining in the short-term beating.....Right now, all at Point and Figure Major Support(in $$$$,that is.)...so don't sweat it.It's all short-term.Tail-down Opportunity for excellent( fantastic,actually) Buys....pick your poison.See ya at the MoshPit.....9am.
I'm holding GFI and it's looking pretty bad from my vantage point.. Gold lost $10 yesterday, but the previously higher price was hardly propping GFI up anyway. Finished -3.67% in the US last night. Sitting just above long-term support (also happens to be long-term 50% fib retracement line.). If it breaks today, and there is a good chance it will, the next levels I see are around 10800, then 10250... could get very nasty.
Barrick dumped 14m GFI shares since May. Is that the reason? Same thing happen with OML a while ago and when the effect was washed out the share recovered. When will same happen to GFI or maybe other factors are stronger like costs, ZAR gold price, drop in production etc