auag .....Sounds like you are describing NCM to a tee.Any short...

auag .....Sounds like you are describing NCM to a tee.

Any short term weakness in the gold price may prove a boon to NCM as it may give them the chance to close out the remainder of their hedge book at better prices for the company. They have already closed out the majority of their hedge book and have stated that they will be fully unhedged by year's end.

For Blacks and the "worry warts" fretting about gold:

Where the gold price is headed? It could break $900 and head back to test support at $850. That's the conventional wisdom and it's quite possible. If so, no big deal as the big picture uptrend is still in place.

Gold often does the unexpected, so this scenario may not play out. Gold may simply consolidate around the $890 - $910 level before resuming its upward march. It may not even fall below $900.

Unless you are on margin or are in dodgy gold companies my advice would be to hold firm and "don't sweat the small stuff".

DYOR ... and I mean your OWN ... and 'good luck'