The Australian share market was stronger at noon as a new high...

The Australian share market was stronger at noon as a new high for the price of gold pushed up gold stocks.

All Ordinaries index had gained 57.8 points, or 1.22 per cent, to 4,790.9.

Analyst said "There's a perception that people are still going to flock to gold or gold stocks because of fears of inflation, as opposed to putting themselves in the US dollar as a safe haven. Despite a moderate developed world recovery, corporate profits should expand quite strongly globally due to continued good cost control and significant latent operating leverage,"

Weapons maker Metal Storm Ltd (MST) says it has still not received the first tranche of $2.1 million of equity capital from an investment of US$35 million by Assure Fast Holdings. The company says it now expects to receive the funds by 6pm Australian Eastern Daylight Savings Time today. Metal Storm says should the board determine that these funds will not arrive it may consider appointing an administrator. Metal Storm shares fell 4 per cent to 2.4 cents.

Majority of sectors are in positive territory at midday, however the sector with the biggest gain is the Materials index up 250 points to 12,530.

The only sector in the red midday is the Real Estate Investment Trust index, down one point to 876.

Gold is trading at US$1,202.75 an ounce and the Aussie dollar is trading at 92.74 US cents.



http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/

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Where profit point would you be happy to exit the trade?
At what price will you cut your losses and walk away?