Exactly right Richard, in US dollar terms. Check out the 2 month...

Exactly right Richard, in US dollar terms. Check out the 2 month gold chart for AUD. It has gone up only 1%. We are so far from producing that any significant rise does little to our sp.

The selling is being matched by some good buying but I have to say there seems to be far more to be done around this level before any significant move higher.

Sitting on the sidelines for now, too many other terrific opportunities around.

rr