I do not like the trend of the USD POG so I sold my SBM shares on the open today.
I could be right or I could be wrong, but I have decided this one is a bit too weak to survive an extended low gold price, even if the AUD stays at its current level or falls back a bit more.
Obviously I am thinking about gold going closer to USD1000, which is where the AISC of the average producer will go over the next 12-24 months as they high grade their operations and lower costs in other ways. Chindian demand is going to take a bit of time to push the gold price to where we would like to see it, and inflation is too low in Europe/US/Japan at present so gold will stay weak as the USD and interest rates rise somewhat.
Good luck all.
loki (a small profit is better than no profit, I suppose)
I do not like the trend of the USD POG so I sold my SBM shares...
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25.5¢ |
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Mkt cap ! $208.6M | |||
| Open | High | Low | Value | Volume |
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| 8 | 405916 | 25.5¢ |
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| Price($) | Vol. | No. |
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| 26.0¢ | 325639 | 10 |
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| SBM (ASX) Chart |