Aussie Gold Miners rallying here.
The Australian gold mining index has demonstrated a strong rebound from recent lows, presenting a range of possible scenarios for the future. Three likely options are represented by the downward red arrows on the chart. It is difficult to predict which scenario is most probable, but a breakout to all-time high prices in Australian dollar terms could render all three options moot and propel the gold mining index to new heights in the coming months.
However, it is important to note that gold miners have been grappling with rising costs, which could impact their profitability going forward. The role of inflation in this dynamic cannot be overlooked, and may ease or exacerbate these challenges.
Upon analyzing the weekly chart, it appears that a bearish cycle remains in play, suggesting that a bottom may be reached in the gold mining index sometime in April. As we continue to monitor these trends closely, we can expect ongoing volatility in this market.
However, it is important to note that gold miners have been grappling with rising costs, which could impact their profitability going forward. The role of inflation in this dynamic cannot be overlooked, and may ease or exacerbate these challenges.
Upon analyzing the weekly chart, it appears that a bearish cycle remains in play, suggesting that a bottom may be reached in the gold mining index sometime in April. As we continue to monitor these trends closely, we can expect ongoing volatility in this market.
Comment:
Option 1, followed by a rally... likely to the red line now. Bank failures will do that!