I note how often the 'RECORD GOLD PRICE' is cited as a reason the Australian gold mining sector is (or should be) booming.
But consider these Wise words from the aptly-named Colin Wise, Chairman of St Barbara Limited, speaking at the group's annual meeting on 19 November 2009, reported by the Melbourne Age:
'In the past 12 months the $A gold price had gone backwards by 2 per cent, while the $US price had risen by 53 per cent.
The $US gold price moved into unchartered waters to $US1150 an ounce on Wednesday (18 November), and a strong exchange rate left the local price at about $A1235 an ounce - well short of its own record high of $A1546 an ounce, reached on February 20.'
CQT Price at posting:
62.5¢ Sentiment: None Disclosure: Held
