Got news for you Londoner.
It's much tougher investing in Australian gold equities than it is being a US citizen investing in American gold equities.
On Friday night every listed HUI gold stock rose at least 3%. Nothing like that happened here - eg. LGL.
In the USA all they have to worry about is the gold price. If the gold price rises then usually their gold stocks rise.
Not here.
The US dollar gold price can rise but actually do nothing in our currency because the AUD might rise faster against the US dollar than the gold price so cancelling out any US dollar gold price rise.
Guess what happens to LGL.
To make matters worse a rising Australian dollar gold price is ignored if US gold stocks fall because gold fell in US dollars, even if gold rose in our currency. Our gold stocks still fall!!!
So put simply, there are more days when our gold stocks can fall than US gold stocks because our gold stocks require a rising US dollar gold price PLUS a rising Australian dollar gold price. US gold stocks just require a rising US dollar gold price.
Got news for you Londoner. It's much tougher investing in...
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