My thoughts on what is happening with aussie gold/silver plays (and stock market in general) is that the world at large believes that Australian stocks are expensive at the moment along with the idea that the good ol' USA will bounce back and soon. Bringing money out of Gold Bars and Aussie $, so plenty of profit taking is happening on the Aussie Stock market with the expectation of a fairly decent downtrend while the US bounces.
I personally believe the only way USA is going is for another round of QE. Pushing gold up, artificially propping the US stock market and Australia will still look expensive but on more solid ground so the profit takers will buy back in on the bounce, looking for the bargain stocks, maybe MKO.
Also our government needs to hurry up and type out their assignment for carbon taxes and whatnot.
MKO Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
