riu presentation last thursday, page-47

I agree SBL.

It looks like the market is pricing in a GFC 2 and a large drop in the price of gold. I have only been looking at gold and gold companies since about mid 2009 so I went back to look at the AUD price of gold through GFC I. Doesn't look like it had much of an impact in AUD terms. The decrease in the US price was offset to a large degree by the fall in the AUD and by about mid 2008 the AU POG exceeded pre GFC levels.

Would that happen again? Probably. No reason to sell based on the profits SLR can generate.

Who is selling then?

If I was an American holding Aussie dollar assets, I'd be selling them now. Perhaps that is happening to some degree.

In any case, I thought it looked good yesterday. But then again I was never that good a timing things.

If only I had waited for it to hit $1.60!