G'day Siameseparrot. The problem is gold has been dropping in Oz dollars over a couple of months and that is what counts here in Oz. I posted a similar post on the SBM forum this morning regarding keeping track of the Aussie gold price. If you go to www.ozgold.com.au you will see the price of gold in both US and Aussie dollars and it is not a pretty picture for our gold stocks. The price in our dollars was well over $1,400 only weeks ago and now it is $1,220, a loss of $200 dollars per oz to each and every gold producer in Australia. The gold stocks have done well to hold up as they have. When the site opens there are small graphs for both prices there on the home page. It is not so much that our dollar is rising, more so, the bum is falling out of the US dollar, and so it damned well should.
Kind regards
Lockitt
LGL Price at posting:
$3.29 Sentiment: None Disclosure: Not Held
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