holding on strongly - huge news afoot, page-24

Thanks Leroy.
Re seasonal low for gold, I posted the first chart below on SLR thread last night.
I see good upside for gold in AUD (more upside than whatever may be in store for US gold- which hopefully is also good upside to give the AUD POG an even better performance). The AUD POG is what matters to ABU's cash flow and profitability.
I think AUD is looking weak on the chart while gold might be forming a bottom.
If we see gold break lower I think AUD is very likely to follow so supporting gold in AUD.
For now it looks more likely gold holds or rallies while AUD drops sharply as soon as stops are hit (similar to what we saw in gold). Latest reserve bank comments (AUD still too high) may be the trigger to hit the stops and get the selling started.
So I think the AUD gold price is set for solid gains.

AUD POG is now 1472. That’s now the highest level since the takedown.
Just before the takedown which broke the support, POG was AUD $1480 (USD $1560), so while still lower for US producers, our Aussie producers/developers are now seeing gold back to within $10 of the price before the support was broken. You wouldn’t know it looking at the sp’s but you are seeing some strong recoveries- e.g. SLR is now up 50% from lows, RRL well off its lows. I expect more will follow as the AUD fall gains momentum. You just need to get past the forced redemption selling and fear based selling to see strong recoveries like the one SLR is having.
ABU was trading around 3.8-3.9 just before POG dropped through support. It's now only 2.7c despite POG in AUD being back to within $10 of where it was back then- and now starting to dig with processing just next month.
I would now be confident the low is behind us for ABU.

The lower chart has not updated for the 1.5% jump in AUD gold last night (it was only marginally up in USD).