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Online Share Trading

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Gold fields

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TJH
Frequent Contributor
The long term trendline for gold is around $475 (something like that), but we are probably more likely to see $560? I'm not sure where we could end up. Another rule is that after a big move like we had from $270 to $$745 (wave 1) the subsequent correction usually takes out the 3rd wave extension (around $530.) It will be interesting to see how we get out of this upleg.
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TJH
Frequent Contributor
Sorry. Everytime I post here I get bombed out. The bottom line is that everything will be in a sell until they seperately move in different cycles.
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SimonPB
Valued Contributor
wizard, HUI is not = GFI. New Gold, you buy right here, code is GLD.
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TJH
Frequent Contributor
Gold has also mapped out a wave A and is already completing its wave B of three impulse waves up. Go ahead. Count them. We still need to see wave C down.
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TJH
Frequent Contributor
GLD is more sensitive to an increase/decrease in the gold price than a weakening/strengthening Rand.
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SimonPB
Valued Contributor
tjh, depends which moves more.
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TJH
Frequent Contributor
In this case gold. Not all the time. But I think if the Gold price gives a sell I would not like to be in GLD
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Wizard
Super Contributor
I was not referring to GFI. What I want to say is that Gold is going higher and different entities will use that differently. ie. Central banks will buy the bullion, investors will buy shares and the guys that want some serious wealth warrants and junior mining stocks. The core of it is Gold in different currencies. GLD here. The smart investor can beat it's performance without going to junior mining stocks.
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SimonPB
Valued Contributor
I suspect we're talking past each other. Sure one can bat GLD without smaller miners, but a gold mine is a lot more then just a punt on the gold price. It is also rand/US$ (as is GLD), it is management, workers, accidents, hedge books, cost inflation, etc.
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