I have half my porfolio in USD based assets. These are going currently going to CASH, and then back to AUD's for investing in Australia. Like to have some gold hedge against USD while this is going on
* Supply side constricting: Gold production worldwide is decreasing, particularly in Sth Africa, which has been the biggest supplier.
* Demand side increasing: Possible scenarios being a squeeze in deliverable gold. Hedge funds have now unwound gold positions ?
* NCM is the second lowest cost producer in Australia at USD$ 365 oz.
* Biggest producer - 486k oz 3Q; up 12% from 2Q
* Unhedged producer - Earnings up 25% on currency adjusted basis.
* 2009: 1,670k oz projected
I think gold prices will outperform other resource commodities.
