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23:49
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Originally posted by hightrax:
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Think some are spooked away from Oz gold miners a bit by the fall in the $US gold price. Part of that is a bit of a rise in the $US itself, but the fall in Us terms, about 7.5% roughly from its near peak about US $1950, more broadly, is cancelled out in $A terms by a 6.5% approx. fall in the $A from about 78.5 to 73.5 c US. So in practical terms, the revenue lost by the gold miners is negligible here from the fall in the $US gold price. I think we are going to see financial results quite a bit better than a more superficial reaction would suggest. Effectively they are getting the same money for the gold in $A as they did when gold was in the mid $1900-2000 range.
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floors, pardon me.
(20min delay)