IGR like gold is suffering a temporary set back, but with gold hedges in place the company has guaranteed income and with the upcomming drilling and production announcements pleanty of blue sky.
POG and IGR will sort itself out over the comming weeks and then we should see a stronger rally in the comming months.
I will hold and buy more if funds allow. Angers
Even gold loses lustre in flight from risk September 23, 2011 . "Gold has been caught up in the flight to the exit..." ... Nick Trevethan, ANZ senior commodities strategist.
GOLD edged higher yesterday but remains on track for a third straight week of falls as investors worried about a grim global growth outlook piled into the US dollar, which weighs on bullion prices.
The spot price of gold edged up 0.4 per cent to $US1742.30 an ounce, but was headed for a 3.8 per cent fall for the week, its biggest weekly drop since May 8.
''The dollar has strengthened in all of this and everyone is de-risking and putting money into the dollar because of the deteriorating economic outlook,'' said Soozhana Choi, head of commodity research in Asia at Deutsche Bank in Singapore.
'We saw massive de-risking across the board, and gold as well as other commodities weren't unscathed.''
Spot gold is expected to firm between $US1680 and $US1920 an ounce over the next three months before resuming its long-term uptrend, Reuters technical analyst Wang Tao said.
''Gold has been caught up in the overall flight to the exit, but in a normal, sensible world, we should expect to see some support from the fear and trepidation investors are facing,'' said Nick Trevethan, senior commodities strategist at ANZ Bank.
Reuters and Bloomberg http://www.watoday.com.au/business/even-gold-loses-lustre-in-flight-from-risk-20110923-1kpdg.html
