13612 Mar 2014 21:07
to beat here for a likely move to well over £2 - today is good but no cigar ...
It remains to be seen how all goldies are going to react to the GP sniffing 1400s - it *should* be a major boost as it implies a longer term lift in the price but as graftman alludes to, it could also be a temporary spike.
The safer bet on gold was at 1200 in Jan, and we all got well off the back of that I hope but you have to be cagier about bigger rises from here whilst not ruling it out as that increased GP is obviously going to have an exponential effect on the margins, and hence the SP, of goldies, especially indebted ones ...
I think you're likely to see a real herd effect where SPs twitch about for a while then suddenly all fly up together as the herd crosses the croc infested river lol - today may be the start of that rush on mid-tier producers, as I've been postulating for a while, after the majors did so well since Jan ...
GLA