The A$ appreciation has robbed us of half the gains of POG, but the latest close of A$627 must be a 12mth high. [too lazy to check a chart ATM] I've read all the Bug Press and I'm starting to doubt much of it. Critically, where is the short squeeze that was going to happen @ $325? The big banks JPM, Citi] still look to be in good shape so I'll expect Au to raise to it's long term average but pull up a long way short of $1000. The rising $ is'nt all bad for miners though. Much of their costs, plant and reagents, would be priced in USD so cash production costs should fall.
