Ajax,
wrt your quote that AU has a lot further to run because of greenback weakness,please note following;
1.$US in uptrend at present, but even that may not be relevant anymore.Sure,in 2nd half 09 when downtrend in $US index was consistent gold kept on going up.Now it seems gold has decoupled from that and the inverse relationship seems no longer to hold.
2.Inflation in major western countries is not apparent now nor down the track.
What then would explain a continuing increase(if it occurs) in the AU price?
My theory is that its momentum.ie as people see it going up they get on the bandwagon.How this will end(and it always does)is anybodys guess.
I wont deny tho that there is huge support,both in talk and cash,for AU continuing to go up and up.I certainly hope thats the case.The fact that companies are prepared to spend massive amounts of capital on developing mines tends to support that proposition.eg in July,anglogold ashanti will almost certainly give the green light to developing a mine at Tropicana in the remote wilderness of WA at a cost of 0.5billion dollars!
wrt PRU Im still waiting on a pullback but its not happening.
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$2.46 |
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Mkt cap ! $3.412B |
Open | High | Low | Value | Volume |
$2.53 | $2.54 | $2.44 | $6.493M | 2.610M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
20 | 67798 | $2.45 |
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Price($) | Vol. | No. |
---|---|---|
$2.46 | 33664 | 23 |
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No. | Vol. | Price($) |
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14 | 33918 | 2.460 |
28 | 232769 | 2.450 |
19 | 103065 | 2.440 |
15 | 275427 | 2.430 |
5 | 56505 | 2.420 |
Price($) | Vol. | No. |
---|---|---|
2.470 | 104745 | 42 |
2.480 | 136811 | 23 |
2.490 | 148170 | 24 |
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2.510 | 27603 | 6 |
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