The gold sector’s likely to experience some profit taking this morning following the Fed Chairs hawkish comments on Friday night – gold ETFs fell ~4% in US trade. However, after seeing VAU surge over 50% in just 4-weeks we intend to be slightly pedantic with our entry level, we can always pay up later in the coming weeks if the deep pullback doesn’t materialise.
- We are bullish towards the Vault Mineral’s (VAU), liking the risk/reward into a 6-8% pullback.
Trade Idea: Buy Vault Minerals (VAU) using a limit of $6.46, with stops at $5.90, around 8% risk.
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