Skid, I smoke eels! LOL
Printable View
Check this out. Gold's a good 'investment'.lol
Only if you're blind.
http://www.cnbc.com/id/101408290
Gold has been a very good investment (or rather investing in gold diggers has been) both at the end of June 2013 and again mid-December 2013.
If you'd bought PM stocks at both points and sold within two months, you would've doubled your money - twice!
Where does your S&P500 demonstrate a 200% ROI, Skol?
AUD/USD rising to 90c yesterday is not helping PM diggers maintain this week's run to their share prices. After lifting at market open today, most are drifting down.
A few exceptions: AZS announced some good drilling results (up 4%), CHN rising above previous resistance to trade at 15.5c (up 7%) and OZL's financial report was much better than expected (up 11%).
I don't think the AUD's strength will last too long BC. I'm still looking for low 80s or even higher 70s in the AUD over time. Imagine that if we also have a gold price recovery! Two things to like about the Aussies, 1) their currency is going to weaken further. 2) the Wallabies being the easy beats in world rugby, well at least where the ABs are concerned ! :p
Most currencies rise against the USD when Equity markets are bullish. With last week's correction, the USD strengthened, and I expect that the correction is not over (a shoulder is forming), meaning that the AUD/USD is likely to weaken soon...which is good for exporters, including gold diggers.
EVN has fallen away since this morning's high of 85c, likewise NCM (which has had a stellar run this past month) and many other Aussie mining stocks. I see a nice dip coming up for these two: I'm guessing EVN @ ~ 70c and NCM @ ~ 1025c.
Trading to it.
Meanwhile SOC has shown signs of recovery - me thinks that the seller has had a change of mind.
And so the quality of the thread deteriorates yet again. When will people learn to use the ignore button. Seriously turns me off!