Price breakout possible in either direction, but Gold Fields testing short-term support
LOOKING AT THE gold sector, we show a chart of the US dollar gold price, as well as local mining stock Gold Fields. The gold price is currently in a sideways band and preparing for a breakout move. However, it could be in either direction. Meanwhile, Gold Fields – the strongest of the three large gold stocks on the JSE on a relative basis – is testing short-term support. The charts of both instruments offer some price targets.