is the gold bull over?, page-33

Many producers can turn down te wick in drilling and mine development and simply concentrate on on producing gold and conserving cash.

Despite the recent drop in the POG in $USD, the POG is still $1398 AUD.

It has been reported that China intends to buy 1000 ton AU per year when
the POG was close to $1600 USD and, given the drop, they will likely buy more this year at the reduced prices.

China is establishing bilateral currency settlements with its supplier and customer nations to avoid the USD as intermediary. The Chinese Yuan/$AUD
direct trade got Australian Governmental approval a few months ago and started
April 10th 2013. China will need gold backing for the Yuan as these bilateral
trade deals develop and the USA puts on the squeeze..

And finally, if there are as many gold miners as reported being close to break even @ $1300 AUD/oz then supply will be curtailed putting upward pressure on price. ( keep in mind that less than 1.1 mil ozs is a metric ton and that's only 10 small mines worldwide)

Cheers
Moorookamick