Chillax dudes, gold is going nowhere fast. Many factors are pointing to further ETF divestment (albeit slower), this overhang will take awhile to digest (worsen by reversal in net investment to supply status). Until consumer demand chew down the excess supply or investment demand reverses, there won't be sustainable upward price momentum.
Pick a goldie that will survive this trough, the same conditions will lead to a re-test of the gold price highs (I believe in 2 years time). Keep some money free to pick up more on the falling SP, no point denying NCM is in trouble (even though relatively speaking it is better off than the likes of SLR). I like NCM because with everything into consideration, it is the one of the most likely Australian gold producer to survive.
PS I being buying gradually since $17, sympathies to those who bought higher.
NCM Price at posting:
$7.71 Sentiment: LT Buy Disclosure: Held
