Hmm, if as a manager I'd just experienced a pillar falling in the mine which would have prevented delivery of contracted gold, I wouldnt be pushing it too far, but hedging when it tops is a good idea. Need to be able to pick the top. Suspect its a way off yet. The market is just returning to a more normal level following a lot of selling by US gold ETF's last year as the Dow climbed from injection of funny money by banks and real live customers moved their money to rising stocks. Looks like some may be moving a bit back again. Not a wholesale rush, more a return to normality? US stocks reversing just now. If youre going to go with the trend getting on before its too late is the idea. Could see gold hit US $1400 next week. Closed $1380 on Fri, US time. Trend intact.
UML Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held