Gold dithers

Price break­out pos­si­ble in ei­ther di­rec­tion, but Gold Fields test­ing short-term sup­port

Finweek English Edition - - COMPANIES & MARKETS -

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.

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