Stocks are drifting with no overwhelming theme

Stocks are drifting with no overwhelming theme

The general mining market lacked enthusiasm during the week with the result being drifting share prices. It is not as if anything was going wrong, but there obviously wasn't enough buying to balance out the selling

It's a bit uncertain with the gold producers. Many of them look as if they have hit resistance lines and have breached the short term uptrends that coincided with the rally in the gold price. They are now contained within longer term downtrends that go back to their peaks in mid 2106. While the A$ gold price isn't moving much it seems that institutions are selling gold stocks and moving money to the sidelines.