Simple arithmetic

POG is still above USD$1500 per oz. But AUD has fallen to below USD$1.06. That means gold producers will be more profitable in AUD. But people are still not buying gold producers. I am but I have set my buy price too low to account for market sentiment.

My EQN cheque was deposited nearly a fortnight ago. But it is in Canadian dollars. So the bank has not cleared it yet! The profit was more than 100%. I first bought it in 2006. And then in May 2010, I bought CGG which got taken over by EQN. In turn EQN was taken over by Barrick. Sweet!

When the money is cleared, I can't wait to grab more gold miners. But I expect the markets to go down in the short term.