POG... its floor

When you are desperate financially, the first asset you sell is the one that generates the most cash. Hence gold fell badly yesterday. But look what happened overnight!

The last floor was USD$1600 per oz. Looks like the new one is USD$1700 per oz. The nouveau riche of India and China have developed a taste for the precious metal. There must be a lot more mistresses in those parts of the world now.

In EV/oz Au valuation, it is hard to beat PXG. Yet the market seems very indifferent to this stock because it is small. Yesterday, it announced a rise in its Au resource. The market response is "So what?". I love that!