Thanks bas3. Another article talking up the sovereign risk of Argentina. Another article that is, maybe, not as well researched as it could be, as it lumps a broad range of resource companies in together without regard to specific facts. With investing, I think specifics matter. I believe there is a lot of fear regarding the current state of that country, these types of articles are feeding into that. I also believe this fear is one of the factors of the declining price of TRY. However, I currently think this sovereign risk fear is overblown, especially with regards to Australian based companies, due to the points in my original post. If this fear is driving down the price of TRY and has little or no basis, then this is creating a tremendous opportunity to pick up shares in a low cost, dividend paying gold producer with a long, solid track record.
Here is a different take on the gold picture. - http://www.telegraph.co.uk/finance/personalfinance/investing/gold/9879738/Gold-faces-global-supply-crunch.html
I would also suggest, the relative strength of the US dollar is impacting gold prices right now. A temporary condition when 1 trillion new dollars will be created this year.
TRY Price at posting:
$2.72 Sentiment: Buy Disclosure: Held
