pog, page-2

I agree with your opinion on the other side ocracoke, my take on the POG is as follows:

The US government is the reserve currency of the world (for the time being), when people get scared from the economic climate they liquidate assets i.e. stocks, gold etf's, futures you name it for you guessed it US backed dollars, bonds, treasuries due to their SAFE HAVEN status.

With the US ceiling limit set to reach its limit late this year what do you think is going to occur to all the money which has been poured into those US based dollars, where will the money flow once the flock realise that the USD isn't as safe as they thought it would be.

Reserve banks in developing nations are accumulating gold for a reason and there is a reason why, they know that the USD is losing its value over time and don't want to be stuck with potentially worthless USD's should things get dire.

I'm expecting POG to consolidate mid this year and then breach the $2000 AUD with the debt ceiling flare up.

What IGR has in favour is its low cash costs, soon to be debt free status and long mine life.

DYOR as always.