Club Mulgoa

Friday, September 07, 2012

Gold

On Monday, it isn't a good day to buy gold or gold stocks.  This kind of price rise cannot be sustained and is not a function of supply/demand equilibration.  Most likely it is market manipulation for the short term.

What have I bought lately?  NWE, BPT, AUCO, ABZ, SXY, BUT, OYM and WHN on the market, and GTEO rights.  That makes it 1 base metal, 1 bauxide, 3 gold and 4 oil/gas stocks.

ABU has 3.3 million oz resource so someone in Hotcopper has calculated that with just last night's rise in the POG, ABU has increased its value by USD$115 million.  The market cap is only worth $149 million.

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