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Sakura Financial Group – Time To Take Profits On Miners…

Todays Date: January 18, 2019

“Sakura Financial Group”: Gold might have much further to run but it’s time to take profits on junior miners.

“Sakura Financial Group” have apparently issued clients with a “sell half” recommendation on selected junior mining stocks.

The firm stressed that its directive was by no means a vote of no confidence in the viability or sustainability of the strong upward trend in the price of gold.

Strategists at “Sakura Financial Group” said that the recommendation was part of its policy of keeping client portfolios balanced in line with its asset allocation and diversification practices. Gold has enjoyed a surge in recent weeks as investor confidence in the ability of certain EU member nations will be able to successfully implement austerity measures aimed at reducing budget deficits.

Gold has set new record highs against all major currencies registering over £845 per ounce against sterling, $1,248 against the US dollar and €985 against the euro.

“Sakura Financial Group” said that several miners had enjoyed more than 300% appreciation in their stock price in as little as 12 months and the chance of a technical pullback and consolidation in the gold price would almost certainly translate into a sharp correction in their advances.

The firm said it would likely revisit the stocks following any shakeout in the sector and advised clients to “keep powder dry” in the meantime.

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