Ann: Production Update March Quarter, page-72

Crows

I agree that investment demand for gold has risen (and I am not talking about retail demand by small fry buyers of coins), and that is what is currently under-pining the USD POG, despite Russia having ceased buying gold (and probably other govts given all the other demands on their budgets - in fact some govts may decide to sell some of their gold holding as income from trade has been falling (eg oil price impact, and lower exports from China).

All I am saying is not to fall in love with the upside of gold/goldies and to trade goldies rather than become a bag holder. There were lots of sad sack stories on the internet after the 2013 waterfall decline in the USD POG. The lucky ones were those who only lost what they had gained on the way up (eg I lost most of my gains trying to trade down my positions rather than just heading for the hills to escape the carnage) - but unfortunately many people got in much later at higher prices and held on for the downhill ride believing a lot of bunkum. And of course its not just the gold price one had to worry about - its costs and operational issues, and country risk etc which change over time.

I got complacent/lazy with my DCN holding and have paid for that recent mistake. Fortunately I have offsetting gains elsewhere, and perhaps I will get a chance to recover the losses via trading DCN.

If plants were to shut down due to the Wohun virus then goldies could really take a massive beating.

loki