POG is still up at AUD $1,075, the drop was largely the result of USD strengthening (only god would know why).. analysts are tipping the AUD/USD exchange rate to dip to settle between 75-78c which is good for local producers.
unfortunately the market drops our miners when the POG falls even when it doesn't in AUD terms..
the drop in demand for 'paper' gold is offsetting the unprecedented current demand for physical gold (ETFs, bullion) which the industry says it has never seen before.. i would be quietly happy if MCO's first pour occurs after the physical demand is reflected in the spot POG.. until then there is no rush to produce and sell at an artificially low price
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