Fortunately for Australian gold stocks, the Aussie Dollar broke primary support at 75, warning of a decline to 69/70 US cents. The weaker Aussie Dollar will boost local gold stocks, with the All Ordinaries Gold Index breaking through resistance at 5100. Follow-through above 5250 would confirm another advance.
From all of the ASX gold producers, I am picking DRM as the biggest winner over the next 12 months.
