POG AUD and China

China GDP fell today but it fell less than expected so the markets love it. Hence AUD also went along for the ride, and POG, too.

As I said, I just love my alphas whichever ASX turns. Those who bought ABU should be happy. The nicer surprise will come when the actually drilling is down rather than trenching. However, one must never sound optimistic. Nothing to do with superstition. You can never tell whether it is going to reflect the surface scratchings. However, one CEO once said that if gold is found at the surface, it gives it optimism because it means at least gold is found even if the grade is low. It tells you where to find the rest of the gold. Yet ABU's grade is very high! Just the trenching samples are enough to generate kgs of gold.

But the not so good news is AUD creeping up. If you are exchanging AUD for other currencies, it is fantastic but the longer term consequence is not good for the nation's economy. Which is the chicken and which is the egg?