Seriously a broker telling you to sell, as they have a short view on gold. Are these the same brokers, offering Margin loans back in 2008 as they said that the market would never fall >40%.
Gold is no different to other hard or soft commodities, the major influence on price is not based on fundamentals...approx 80% of these markets and FX markets are spec traded, so how they know is beyond me.
I'm happy to hold IGR, it will continue fluctuate in price and when I have a view that there is minimal wealth to be created compared to another stock then I'll exit some or all.
Your broker needs to understand your individual risk profile and your exposure to these type of stocks..rather than just sell gold stocks such as IGR...
Despite watching Rabbitoh...getting annoyed about 6 months ago..he seems happier now and I hope we're all happy into the new year with upgrade on resource, if we have hedged gold at $1350 - I assume they did this because it is profitable, which is why you lock in a price!
BLIMPSO
IGR Price at posting:
53.5¢ Sentiment: LT Buy Disclosure: Held
