I do not like the trend of the USD POG so I sold my SBM shares on the open today.
I could be right or I could be wrong, but I have decided this one is a bit too weak to survive an extended low gold price, even if the AUD stays at its current level or falls back a bit more.
Obviously I am thinking about gold going closer to USD1000, which is where the AISC of the average producer will go over the next 12-24 months as they high grade their operations and lower costs in other ways. Chindian demand is going to take a bit of time to push the gold price to where we would like to see it, and inflation is too low in Europe/US/Japan at present so gold will stay weak as the USD and interest rates rise somewhat.
Good luck all.
loki (a small profit is better than no profit, I suppose)
I will be back,on fly !!, page-33
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add SBM (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
39.0¢ |
Change
-0.005(1.27%) |
Mkt cap ! $319.1M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 40.0¢ | 38.5¢ | $1.463M | 3.724M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 125199 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 349194 | 23 |
View Market Depth
| Last trade - 16.10pm 16/10/2024 (20 minute delay) ? |
| SBM (ASX) Chart |