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Gold above 1050, R/$ above 7.4, but HAR going down

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Pots
Contributor
Previous posts indicated HAR following R/$ and could break 89 so why is HAR going down?
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11 REPLIES 11
SimonPB
Valued Contributor
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deanmg
Contributor
Hi Simon, just on that point. Do the gold companies declare what percentage of their gold they sell domestically(at the rand rate) or internationally(at the dollar rate)? Surely at the dollar rate they would be trying to sell more there? Considering demand is there....
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SimonPB
Valued Contributor
all godl is sold in US$ .. but local gold companies then convert it back to rands .. hence the rand/gold being what is important ..
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GarethJ
Regular Contributor
While the Miners are obviously influenced by significant changes in the (rand) gold price, they still follow the same trading/market principles as any other shares. At the moment Gold is not doing much. HAR currently has low volumes and OBV, dropping on Stochastics etc. i.e. low trading interest. I like trading the miners as I find they move quite cleanly when they turn bullish. Depending on R/Gold and market dynamics may start getting Buy signals again in a week or two, but at the moment looks like a Gold Miner waiting game...
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sponono
Super Contributor
HAR, LBT and GRT are the laggards in the top 40 stocks. I would not touch them untill they show some green year to date. ANG is 30% up year to date. That should be a preferred gold stock not HAR which is down the most in the top 40 stocks: 14% year to date.
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SimonPB
Valued Contributor
why YTD ? wasn;t har one of only 2 green top40 stocks in 2008 ??
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sponono
Super Contributor
10 months is a long enough period for a stock to show its strength. Besides, the fact that it is down year to date for me is an indicator of its relative weakness.
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GarethJ
Regular Contributor
As a trader I have found a number of Gold Miners to be smooth and easy to trade this year - even though returns may not be as good as last year. They react well to bullish Gold sentiment even if the R/Gold price remains stable (or decreases), have well defined entry points (on parameters I use - Stochastics, Volume etc.) and return a fairly safe and reliable 7-15 percent on a trade. There's also always the outside chance of a big upside as a multitude of newsletters and talking heads will tell you daily :). I like em.
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Pots
Contributor
Rand/Gold has been moving up (albeit slowly) yet HAR still moving down. Are there perhaps other factors affecting HAR. Aware that fatality earlier this week partly resp. for fall in price - can we expect a rebound?
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prancing_horse
Super Contributor
Gold mines are toast, not gold.Who would want to invest in a share that has lost over 20% in 6 years and paid you R1.20 dividend over this period for an outlay of R100.You got to be smoking mielie stalks!!!
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Not applicable
market is only following gold price. Rand gold price broke through 8000 level now, looking good there!!! imo gold will bottom today if it hadn't already yesterday at 1030 and we should see 1100 over the next 2-3 weeks. I would buy now. 80 is a a very good entry. with support at 79 and resistance at around 83. 88 still is key point to take us to 97.
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