As a resident of Bendigo & a very keen student of Bendigo Mining I am way behind in my investment. (The chartists would say it is all in the charts, & in this case they are right !!!!)
It is illogical why Australian gold mining stock should be so cheap & falling right now, because the price in OZ dollars is still ok, as our dollar has fallen against the greenback.
But for all the gold bugs & all the "good stuff" that gets posted here about why gold should go up,....lets just say ,its all been said before. Hundreds of times over many many years by all sorts of self procaimed "experts " claiming gold is too cheap & will double, triple, or whatever. In reality what these "experts" are voicing, is nothing more than their opinion, perception ( or wish ) of how it should be. I don't think any of these "experts" really have too much credibility. For many years they have been proven wrong. "Foul" they cry "the market is manipulated" Maybe .... but they are still WRONG as far as the outcome is concerned.
And that's the bottom line.
In reality, gold only has the value that the market chooses to put on it. The market does include central, bankers & governments. Whether we think what they do is right or wrong is irrelevant... This IS the market Gold is nice to look at, is malleable,ductile, etc. but then what do you do with it ?????? We dig it up from deep beneath the ground, fashion it into bars & bury it in vaults deep beneath the ground.
