The price of Spot Gold has dropped over $40.00 since last Friday.
As a result, shares of Newcrest mining have fallen close to $2.00 and posted a 4-month low of $21.20 earlier today.
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We expect good support in the spot Gold market near the $1300.00 area.
This roughly pencils out to the $20.80 level for NCM shares.
We suggest keeping NCM, as well as the smaller Gold producers, on the radar for a buying opportunity if spot Gold holds the $1300.00 level over the next few trading sessions.
Newcrest Mining
