The South African Gold Run

Just a follow-up on my rand gold price forecast. My forecast is progressing rather nicely. The price is making all the right technical moves.

Below is a 5 yr chart (from gold for the SA rand gold price:

Price is making its way up towards the target line, which is currently at about the R 12000 level. The upward move should start to accelerate from here.

Below is a closer look at the SA rand gold price chart (2yr):


I have indicated what I perceive to be a cup and handle formation. Read more about this formation here. This is a very bullish formation, and confirms the longer term forecast, dealt with in the previous chart. The target for this pattern is about the R 12 300 area. From here, price could move fast to about the R 10 700 area, have a break and a pullback, until it continues the march to the plus R 12 000 level.

It is an exciting time to be a gold investor, since returns should come big and fast. It is even more exciting to be in gold stocks, since they should come even bigger and faster.

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Warm regards

Hubert  Moolman