On May 6th, we posted a report on Gold which suggested the yellow metal was holding support levels at $1220.00 and had a medium-term target of $1260.00. At this time, NCM was trading at $20.10
Gold traded as high as $1281 in early Asian trade today and NCM is finally joining the rally. The stock has reached a two-week high of $21.78 and internal momentum indicators are looking constructive for a move higher.
You're not a member! Trial today
We’re still expecting higher prices in both, with the next resistance level for gold at $1293.00, and the May 18th high of $22.20 for NCM.
Newcrest Mining
