Aldersley On Linc, Kingsgate
I was a little premature recommending Kingsgate at $1.80 in May. It plummeted to $1.26 briefly at the end of June as panic set in about the gold price. Nearly every global broker has since downgraded their target for gold to about $1100 or below. Just in time as it happens for the seasonal rally in July that usually occurs. Today we have seen gold get back over $1300 and it would not surprise me if gold rallied towards $1500 this month in a sudden spike. The reason is despite levies on gold buying by Indian nationals, both Chinese and Indian demand for gold spikes about this time of year ahead of the wedding season.
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