gold shines as bad economics news build up

From The Australian. Gor was mentioned as one of the companies in the article. There was about 6 companies in all but i have no interest in cross promoting.


"NO wonder gold went up $US30 an ounce last night - the growing realisation that Greece will still default (only later, rather than sooner) plus Portuguese government debt being classed by Moody's as junk should have been enough to do that.
Throw in last Friday?s purchasing managers index figures from China (the worst since the depths of the GFC) and continuing stalemate on debt in Washington and you have the icing on the gold cake.

The only surprise is that, as gold prices slipped a little in preceding days, commentators and the business media viewed that slight easing seriously and worth getting agitated about. The very fact that investors moved to the US dollar as a safe haven is astounding - the Americans are going to have to keep on printing money simply to pay the interest on the $US59 trillion ($55.18 trillion) debt owed by governments, companies and individuals.

The gold price has risen every year since 2001. Since then, we have had an enormous wave of investor buying, creation of gold-exchange traded funds and China hoarding gold as if the world is about to run out of it. Now, too, there is net central bank buying - the days of European central banks dropping gold like hot potatoes seem a distant memory.


If you listen to some forecasters (like Standard Chartered, for example), then today?s $US1500/oz will seem like peanuts in a few years.

So it might be worth cranking up an interest in explorers and emerging producers. The following news items are worth checking out:

Gold Road Resources (GOR) reported more high-grade intercepts from its Central Bore and Justinian prospects in Western Australia?s Yamarna belt. These included 4m at 40.1 grams/tonne and 5m at 104g/t."