Gold had a big spike on the day of the US election but once news settled Gold started its decline. Reason could be many, like market settling down, USD up due to trump spending on infrastructure and interest up potentially moving up in Dec
Cnmc a gold mining stock could also offer with the lower gold prices. It is currently sitting on the lower downtrend line which we drew . IF gold continues to fall we could see that downtrend line of 0.45 cents being broken and it might take us down to the 200m which is at 0.38 cents. But if gold rebounds then it could potentially rebound to 50 cents. Which side are you hoping for?
We’re slightly more on the bearish side.