Club Mulgoa

Monday, May 20, 2013

POG and NST

This company is a low cost miner.  And it keeps finding new veins with rich gold deposits.  Yet yesterday, the market marked it down 8%.  Hence I collected at parcel with my low buy bid.  It felt like a tragedy that I got what I wanted!  The POG cannot keep falling but lemmings will continue to sell in a falling market due to the momentum.  And thoughtlessness.  You cannot produce gold cheaply.  The alchemists of the old had already found that out.  Of course, you can sell your gold hoard cheaply but you will lose your asset base.

I waited for gold price to reverse.  And it happened last night in the USA.  But there will continue to be instability and the yo-yoing will persist for much longer.

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