Great article on * today are the demise of cryptocurrecy...

Great article on * today are the demise of cryptocurrecy & the bullish consequences for gold, compounded by macro economic factors. Whilst PDI is an explorer, the bullish sentiment will certainly give it something to surf on towards all time high & beyond. Full read of article is worth it with several major gold company CEOs feeding in. Gona be a great end of year & 2023 with this stock. I do note also, down-ramping that has occurred (I'm not talking about the dribbler) has been struggling to grasp onto anything substantial. Anyway you cut it, this is an incredibly undervalued stock & only going up, in my opinion.

Read on, thanks to *:


Ground Breakers: Gold will shine amid FTX crypto doom, say big miners

Two of Australia’s biggest gold miners say the “unravelling of cryptocurrency” will add to bullish conditions for the precious metal in the coming year as it looks to reclaim its status as the world’s standout non-currency store of value.

The vast bulk of gold price moves are driven by demand from investors, an area where cryptos like Bitcoin have proved a disrupter in recent years at a time when the degeneration of global diplomatic relations between Russia, China and the West should have been a tailwind for gold prices.

They have been held down this year by a rising trend of interest rate hikes in an attempt by the US Fed and other central banks to tame inflation.

But gold has enjoyed a mini-run of late, with weakening economic signals in the USA including a slight bounce in jobless claims overnight and lower inflation prints boosting hopes the severity of rate rises will decrease.

Gold prices were up ~1% overnight to US$1750/oz.

Evolution Mining (ASX:EVN) boss Jake Klein, who chairs Australia’s third largest gold miner, told shareholders at the company’s AGM today the FTX platform’s multi-billion dollar collapse reinforced gold’s place as the superior store of wealth globally.