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.
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.
Find more information about my free and premium service. I share my research on the gold, silver and general markets, via this free and premium service. Please check it out? You might just find it very useful.