Club Mulgoa

Monday, August 08, 2011

POG, AUD and the disparity with share prices of gold miners

The price of gold is holding up at over USD1700 per oz tonight. And AUD remains under USD1.04. Those idiots who sold gold producers today obviously can't do simple arithmetic. If you are one of those people with a fund manager managing your super, chances are they are paid by you to sell me your gold producers cheaply to me. So thank you!

Tomorrow, share price will fall again but I am not interested in short term movement except to pick up bargains.

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