This is almost reminiscent of the bitcoin crash a few years ago. Gold prices seem to be slumping possibly because people are dumping gold in favour of the Bitcoin rally we are having right now. DRD Gold seems to be strongly marching towards the R15 support line and a break through this line could spell trouble for the short term. Especially for the unlucky souls that perhaps bought in at premium peak levels. Mining stocks as we know are always riskier that your general stocks so this shouldn’t be surprising for regular mining investors. Since share price is heavily reliant on gold price one would need to analyze the gold charts in parallel to possibly map out possible movements of mining Companies.
For now since DRD is diligently respecting the downtrend, there is a strong possibility we will see the 15 price point reached.
For now since DRD is diligently respecting the downtrend, there is a strong possibility we will see the 15 price point reached.