but that makes even less sense, since gold has cut back a lot since $1000 when gold shares hit all time highs, but in rand terms, it has held up pretty well? STB rates Harmony as a sell, with a Target price of 107, I don't know how they calculate that though
I should have said it has complete south african exposure. Given our current trade deficit and the probablility of a pseudo commi or at the very least very leftist government in the near future together with a host of other domestic problems, investors are preferring something abit more diversified...at least this is what I'm picking up from the newswires....so don't shoot the messenger. adios!
Gfi has been under performing Har for a while, me thinks its time to turn the cloths around. technically the interesting thing is GFI and ANG broke through resistance yesterday and formed new highs currently.There is a upside target of plenty!!!DRD is right at resistance which will be broked today and HAR is far from resistance.It has plenty to catch up but at the same time its a good opportunity to long. well its over sold and a good entry level will be today.