GOR closed up +2.9% on Monday, enjoying the mighty tailwind from gold during our day session – it will be a different story this morning. In line with our dovish stance towards bond yields, we remain bullish towards gold stocks, but in a similar fashion to the precious metal, they look overdue a few weeks rest at the very least.
- We can see GOR trading well above $2 through 2024, but the risk/reward is average in the short term.
MM remains bullish toward GOR
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