Dive in $US gold to $1760 this morning......WGX price drops to $1.18. Just like that. As usual the $A drops too in step as it usually does, because all those currency punters O/S think all Oz produces is gold. A$ gold price remains around $2600. No significant change. Cash flow of WGX and all other Oz golds unaffected pretty much. This has created a situation where the seemingly utterly unsophisticated Oz punters think their gold stock has been hit. Wrongo!! But it does create an opportunity to trade on the irrationality of Mr Market.
WGX Price at posting:
$1.18 Sentiment: None Disclosure: Held
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