Gold producers

When most of the producers announced their profit, the price of gold was way below USD1400 per oz. When I went on a rampage recently in early August to top up my gold producers, it was below USD1700 per oz.

When the POG fell recently from its peak, the doomsayers came out in droves... while others suggest it is the correction you had to have. Flying over USD$1900 per oz was sheer madness. But watch the POG again today. It is on the move once again. However, if the Dow opens up, then it will tumble towards USD1700 per oz again, or even lower.

ADU is going to close off its hedging book and most gold producers now are unhedged. So next financial year, if the POG remains over USD1600 per oz, there is plenty to crow about.