Bullish on Barrick

Yeah so, my purchases of GOLD in the past few years haven't tracked the gold price very closely. As leverage on physical gold it hasn't been such a good pick.

However, I am seeing some signs of a change in price-action. Daily RSI is showing higher lows, while price is testing everyone's patience :) making lower lows. Normally hints at a change in direction is coming up. If we get a lower low in price, but the RSI level fails to dip below the 30 level, see that as confirmation. May or may not get it.

On the fundamental side;
- Physical gold is way up and predicted by analysts to hit USD3000/Oz in 2025 - pretty bullish.
- GOLD's cost of production have increased significantly in the past few years, I hope they have or get a handle on that. But the present all-in cost is about (USD1320 - 1420/Oz) 1/2 of the current gold price level, leaving a decent profit margin.
- Annual report due in Feb 2025, quarterly performance shows steady quarter-on-quarter growth and consistent profitability.
- Earnings forecast for Q4 is about 50% above Q3 which should make 2024 a strong one.
- Seem to be well placed coming into 2025.

Will probably add more exposure to GOLD in the next month.

If $15.45 doesn't hold. Targeting $13.75 and $12.20 based on support. Happy if it goes down, happy if it goes up.