Morning Report Friday 25 July 2014
Gold reverses $US30 lower in a week and Newcrest disappoints (again) - Where now for Gold stocks?
Gold failing to get particularly excited with escalating tensions in both the Ukraine and Gaza was a clear warning that gold was looking vulnerable to a fall and that has clearly materialised over the last 48 hours. We had a great trade in the gold sector at the end of 2013-2014 and unfortunately the space has become basically dormant to us over recent months with the exception of Northern Star Resources (NST). I have mentioned gold in a couple of reports over recent weeks, but similar to other resource stocks, I do not invest in gold space, but I am very happy to trade them. First let’s look at the recent and historical drivers of the gold price:
Show more...
