Club Mulgoa

Monday, July 09, 2012

Lemmings

Today, GRY and ABU had good announcements.  And PRU, too but not as great.

Yet, the market is in a dark mood today.  POG has gone up and gone down but it is still over USD$1550 per oz.  Maybe, the "experts" are expecting the collapse of gold price.  But central banks cannot offload their gold hoard as it will affect adversely the value of the remaining gold in their vaults.  The Chinese and Indians are still buying gold for what it was and what it is.

Like most days, when the markets swing, my portfolios go ballistics... either way.  I was ready to pounce if investors want to sell ABU cheaply but it didn't move today.  And GRY and PRU didn't drop down enough for me.

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