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Gold/Mining/Energy : Gold Price Monitor
GDXJ 114.21-0.4%4:00 PM EST
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To: long-gone who wrote (84796)4/27/2002 11:50:26 AM
From: Professor Dotcomm  Read Replies (1) of 116815
 
Not guilty. In fact, if you look back, I forecasted here on GPM a $320-$325 POG some time ago but based more on US$ weakness than on anything else. I still think this.

One area people should watch is whether gold goes up less than the Aus$, SA Rand or the C$. This would lead to devastating drops in margins for mines whose labor costs are in these currencies. Over the last year or so, many of these mines were saved by the US$ strength - especially in South Africa. The mirror image could be uncomfortable.
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