Gold and Gold Stocks, A Technical Update

Operational Disappointments

by Pater Tenebrarum
Acting Man

The arrival of the Qu.2 earnings season was not kind to the gold sector (earnings season almost never is as it were). Goldcorp (GG) and Aurico (AUQ) had to release negative operational guidance, both GG and Barrick Gold (ABX) missed their earnings estimates, Novagold (NG) was hit by news that its joint venture partner ABX was postponing a development decision on its main asset Donlin Creek indefinitely, and so forth.

We have noticed that even the relatively provincial financial press in small European countries has picked up on the bad performance of gold stocks lately, which is the functional equivalent of the story making the front page of ‘Reader’s Digest’.

Continue Reading at Acting-Man.com…

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