By Nigel Somerville | Saturday 8 October 2022
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Gold closed the week at $1695 – nicely up from last week’s $1661 and comfortably above the apparently all-important $1675 level. But the bigger news from Gold was the rise to almost $1730, which prompted the most bearish Gold-bull, Jordan Roy-Byrne of TheDailyGold.com, to suggest that we may have finally seen the bottom, and that this means that the (downward) break of $1675 was a false breakdown. On the face of it, after last weekend’s depression (the darkest hour is always before the dawn!) things are looking more hopeful.
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