Thanks Winmore for the acknowledgment - which post?
The current faux financial crisis around the debt ceiling is giving some support for the POG - after the inevitable settlement - now postponed a week, both sides will claim victory and Wall St will probably have a 'relief rally', which may take some steam out of the US$ POG - but will it affect the A$ POG ?
Don't be surprised if US$1900 support gets tested before another rally towards US$2100.
If the A$ POG loses less, and the inflation and other cost pressures moderate, the outlook for profitable gold producers will remain very positive.
As long as the A$ POG - AISC is greater than $600 all will be well, especially for those with no debt or excess hedging.
So, for me the crucial A$ POG support is A$2400 and this assumes costs at or below current levels.
This may not be reflected in the SP in the short term if the whole market retraces ... currently it's being held up by gross over speculation about A.I. stocks, and this bubble alone, wont be able to keep the market afloat at levels most serious pundits regard as (still) historically high.
The black swans are circling - will one or more land and sink the market ??
So, hold your nerve, Have some cash and Hold financially secure stocks ... like RED ... life goes on, this period of uncertainty will settle eventually - IMHO.