I know a lot of investors are giving up on gold but the chart is actually looking positive over the last month.
I think the producers have taken another leg down because of the weak quarterlies rather than because of POG.
If POG breaks out of its correction, sentiment might improve soon.
One thing I doubt ABU investors will need to worry about once in production is weak margins. Not at these grades.
NST and RRL have outperformed over 12 months because of expected higher grades for NST and strong margins for RRL.
I expect we will be in that camp.
Stronger gold would be a welcome backdrop.
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