We need the Aussie dollar to get down a bit to parity to see a better relized result , but with all this money printing it will be pretty hard , unless they do a nice big intrest rate cut next month.
last night when the jobs data came out Gold dived to 1665 , thought oh s^&^ here we go again , but then hour after the dip solid buying came back to give it a real good push. Weather its funds taking a bit of an insurance policy to the upcoming celing or its just cent bank buying its all good.
I feel this has now given gold a good floor to remain above the 200 day moving averge and next real leg up will smash throug the 1700 mark as a resistance seems to be piling there. Oh well if Saracen puts out another good quarterly i will be happy , cash costs need to be on the low for this to be taken to the next level , if they can show a nice or consistant decline under there budget well happy days this will move , if not we will have to rely on the gold price to keep ticking up for us to get some price climb action.
Hold em tight :)
SAR Price at posting:
38.9¢ Sentiment: Buy Disclosure: Held
