Fundamentals haven't changed, page-704

I don't think Boddington/Super pit is a Jundee. Those open pit are averaging under 1 gpt and they were for sale for ages.

If gold price was heading to the floor then it might make sense for the min cap Oz goldies to try and time the market but every time I see big mergers on a euphoric gold price I don't get a good vibes from the macro picture. Not so long ago those big goldies could't get out of their Oz operations fast enough in the fire sale mentality, now they are buying with froth on their lips?

XAUAUD is very elevated so the odds favor a sell off. Even though the Oz economic fundamentals tells me RBA is more than likely to cut rates, I suspect all those negativity has already been baked into the price trend of the AUDUSD.