Around 1st March the price of 1 ounce of gold was USD 1665, or about AU$ 1532 at the then exchange rate of 92c.
Now 1 ounce of gold is USD 1590 but the current exchange rate is 99c which means each 1 ounce is now worth AU$ 1574. The value of our asset has increased by AU$ 42 even though the gold price has dropped USD 75!
Many analysts think the AU$ is likely to weaken further given government monetary policy. A weaker AU$ is good news for the value of BGL’s asset.
The above is an example from the recent AU$ high but it's interesting none the less
http://www.x-rates.com/d/AUD/USD/graph120.html
PS. It's like a morgue around here. Did all you former AZX holders sell or die or something?
PPS What's the news on AZX2?
BAB Price at posting:
22.7¢ Sentiment: LT Buy Disclosure: Held
