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This is what african mining is showing on a Sunday!
Could this be true? We could see a gap up tomorrow when the gold market opens
Before we rise to heavens about this new information, here is the down-to-earth look at the COT positioning as of last Tuesday (21/10/2014):
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This should put the question on the cost of mining to an end. It is between $1100 and $1175.
And now, look at the price chart from 2001 to 2014:
In 2012 period, gold price fluctuate between 1760 to 1526, so this gold miner should still be profitable in 2012.
And they seems like able to predict the 2013 downtrend 1 year ahead by cutting back since 2012.The price level of 1183 is being bounced off 3 times from 2013 to 2014, forming a triple bottom. Finally, a bullish 2015 prediction by the miner with increased production.
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As we are reaching end of the first month of 2015, let’s look back at publicly available financial advice from big banks and wealth managers, for our “benefit”:
And now, this is the 2014 gold price movement:
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