ticking up nicely, page-5

  1. 24,765 Posts.
    XGD falls by more than 100 points with gold up over US$20.00.

    Brilliant!!

    I assume "the market" didn't like the fact that the Aussie dollar strongly rose.

    Though if gold fell US$20 overnight but still rose in Aussie dollars then the falling US dollar gold price of course would be used as the reason to trash gold equities and the fact that gold rose in Aussie dollars as per normal would be conveniently ignored by "the market."

    I can't remember a market as irrationally pathetic for gold equities as we currently have.

    Who in their right minds would have paid $40.00 for Australia's number one gold miner, NCM, back in early 2008 as gold passed US$1000 if they knew that three and a half years later with gold at US$1750 NCM would be a pathetic $34.00

    So instead of the traditional leverage to a 75% gold price rise with a 150% to 225% rise in the share price, NCM has leveraged in a 15% decline in share price to a 75% rise in the gold price!!!!
 
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