Barrick Gold Corp (ABX)

[NYBob]

GOLD REPORT 2-2-2018 -

Gold was slammed in early trading as the effects of a warming interest rate
outlook took their toll.
Gold is trading down $18 on the day at $1330.70.
Silver is down 46¢ at $16.73.
A positive jobs report earlier this morning ignited immediate heavy paper
selling on the COMEX with some 600 tonnes of notional gold sold forward
inducing a waterfall drop in the price.



Measuring the heavy downside against the weight of the news that apparently
caused it, the words "overdone" and "over-played" come to mind.
We think it appropriate to add that these waterfall drops have been
matched in the past with rocket-trajectory upside corrections.
The same market fundamentals that have pushed gold to upside the past two
months – and the past two years – remain in place.
By M. J. Kosares

God Bless