The bottom line is gold stocks are still undervalued, despite their mounting upleg over this past half-year or so. Gold-stock prices remain low relative to prevailing gold levels, still under the preceding few years’ average.
On the back of a recent $3.1-million financing, a $2-million strategic investment by Vizsla Silver, and property acquisition, Prismo Metals is set to explore and deliver a busy summer of news.
"Our program confirmed the potential for high grade gold mineralization (greater than or equal to 10 g/t Au) on the Trecesson Property and further enhanced.."
Although Gold put in a bearish reversal on Friday and failed to breakout, do not expect the sector (and miners specifically) to begin a significant correction.
Gold’s own driving upleg fueling this big gold-stock surge looks far from spent. Speculators’ gold-futures positioning continues to look bullish, and investors have barely even started buying gold yet. All that is on top of gold miners..
The short-term target is about $2050, but a key long-term chart suggests gold could reach $2200-$2400 before there’s a major reaction. As noted, gold is the currency of kings (and regular citizen champions)...
