gold stocks long term
1 response | 1 like
Started by bear - Aug. 27, 2020, 12:53 p.m.

https://www.msn.com/en-us/money/stockdetails/fi-a1yeec?symbol=NEM&form=PRFIEQ


look at the very long term chart.  newmont  normally gets up to that 60-70 zone,  and it is a very strong resistance.   so it does not surprise me if it spends some time correcting.  i don't think it will go all the way back down to 20 or 30.

also the XAU is hitting up against its long term top in the 150-200 range.  so it may spend some time correcting.   

at some point we should take out the old highs.  but not sure when.  

gold needs to go (and stay) decisively above 2k for the xau to break out above its old highs.   just my thoughts.

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By metmike - Aug. 28, 2020, 1:52 p.m.
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Thanks bear!