Since posting a low of $1204.00 on July 10th, Gold has rallied over $150.00 to hit an intra-day high of $1358.00 on September 8th.
Geopolitical tensions, Political uncertainty, weather events and volatile global equity markets have all been drivers of the Gold price over the last three months.
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And while these events are still very present in the market, changes in their impact can be difficult to forecast.
Shares of Newcrest hit an intra-day high of $23.85 on September 6th. Since then we’ve seen over a $1.50 pullback to $22.10.
Ideally, we would like to see NCM shares at or around the $21.90 area to re-establish long positions on a scale-in basis.
Newcrest Mining
