buy time, page-151

I don't agree with further expectations of overseas funds selling Aussie gold stocks on any further AUD weakness. I think most that wanted out would have sold over the last two years as many gold stocks tumbled by up to 90%. Even from here on the sp's of gold stocks will still be far more volatile than the AUD. If gold stocks bounce 50-100% again will any overseas holders care if the AUD falls another 10%?. Overseas and local instos will buy or sell on POG expectations and company specific expectations/news much more so than on AUD expectations. It is a different story with our banks where lower expectations for further earnings or sp growth make AUD/USD fluctuations far more important. For now POG has found strong support at 1190 just above 1180. If it holds and builds then that will be far more important than the AUD movements.