Maybe ! The $A-gold price has broken out of its downwards trend already, while the $US-gold price did not yet. But also $US-gold has seen what many call a buy signal.
If that worry about Central Bank intervention is slowly replaced by a worry that maybe the Central Banks are having trouble controlling the price, Gold has the potential to go up in a big hurry.
Looked at over a longer time frame, if Britain throws her lot in irrevocably with continental Europe(as for the EURO), the U.S. will lose one of its main allies on the world's financial stage. The U.S. Dollar would also lose a staunch supporter, and the Euros ability to compete with it for global Reserve Currency status would be enhanced. That, in turn, would be a potential boom for the $US Gold price.
It was the third day for CALVF that we had volume over 400.000 shares. The price was increasing by about 80% in the last 3 days.
I had a limit order/$0,40 in the market since middle of last week and did not get filled as volume was to low. I am hesitant on buying now, as i was really surprised on the explosive breakout.
I sent an email this morning to caledonia to ask for any news. Maybe BHP Minerals entered into the joint venture agreement for Mulonga Plains property in western Zambia.
It was really a funny coincidence that the last notification date for BHP was the 1st Oct., and the gold price reacted in the same time.
This was double support for CALVF.
Does anybody have any pro arguments as to buy CALVF at $0,80-1,00. Or is the chance that we see a correction in gold price and therefore also in CALVF stock price again big enough so that we can accumulate the stock around $0,50 later on.
Should we have patience now or hurry to not pay over $1,00.
Chris |
