The Spot Gold price hit a high of $1290.00 on April 17th. Over the last two weeks, the price has dropped over 5% to close just over $1227.00 in late NY trade.
During the same time, the share price of Newcrest Mining has dropped over 20% from $25.30 to $20.10 at Friday’s ASX close.
You're not a member! Trial today
The closure of the Cadia mine has had a multiplying effect on the share price; which was already feeling the pressure of lower spot gold prices.
The daily chart patterns in both Gold and Newcrest are showing technically oversold conditions. At current prices, we consider both assets good value for a medium-term reversion trade to $1260 and $22.75, respectfully. 
Newcrest
