Spot gold hit $323.38 a short time ago .... currently $322.20 ... well up on the NY close.
The New York bullion market tonight will be very interesting.
It could be a volatile night.
However, it looks like further upside breakouts are on the cards.
Once through $330 ... then it's a whole new ball game ... gold stocks will really get a "rocket boost" .... which ones do I think will really fire?
Obviously, LHG and CRS ... my top picks
EMP too has been mentioned ... I like its leverage to the POG ... and it too could be a real mover.
AOR ... well ... I just wish PDG would go away and stop muddying the waters. Now PDG is agitating for a seat on the AOR Booard ... and, given their agenda, I find that request a bit presumptous. AOR is in the too hard basket for me.
NCM and SGW will be other beneficiaries in a sustained run up in the price of gold.
Sure, there may be some suprises amongst the small producers and the explorers which are busy proving up reserves and talking about future production targets.
However, all that "talk" will take time to materialise ... if in fact it ever does.
Better to stick to a sure thing ... the stocks that are actually producing lots of the "yellow stuff" at competitive prices ... stocks that have sound reserves... good exploration potential ... and a policy of reducing their hedgebooks re. the POG
SGW and NCM will need to reduce hedged positions significantly to benefit from the increasing gold price and there are signs that this is happening.
