In the current situation gold stocks are not necessarily fated to crash and indeed, we have had a short-term target of HUI 178 off of a pattern* that was identified back in August. It was registered on Friday. The sector is..
The bottom line is battered gold stocks are literally trading at panic levels today! They haven’t been lower or more oversold since March 2020’s pandemic-lockdown stock panic, after which they violently mean reverted massively higher.
Goldman reiterated its “buy” rating on Sibanye Stillwater. The bank sees appealing valuation coupled with strategic focus on acquiring green metal assets in developed markets and unique exposure to gold.
It has been a very rough time for precious metals. In recent months they have endured another terrible selloff that feels like a combination of 2013 and 2008. However, think about how they "looked" technically before major bottoms...