Absolutely loving this gold price action and pretty sure we've got clear air up to $970 before the end of the week. At this moment in time we're floating around the $953 mark and the only thing that hasn't played the game in terms of my AngloGold call has been the strong Rand. (or is that more specifically a weak dollar)
Still pretty confident that long ANG is a good place to be going into tomorrow.
Sasol was looking fine but dipped off today as the exchange rate strengthened and US markets sold down but still pretty happy with where we're at.
Looking forward to tomorrow, I reckon there is going to be plenty of short covering around gold as people pile in and technically I don't see the Rand / Dollar getting through the R8.20 mark to the dollar.... in fact I think there might be some hot money being pulled from emerging market currencies tomorrow...
Let's see ...
Showing posts with label AngloGold. Show all posts
Showing posts with label AngloGold. Show all posts
Thursday, May 21, 2009
Monday, May 18, 2009
Hhhhmmm....
Honestly can't believe the strength of this rally - am I missing something
I took a couple of positions on Monday - long Sasol (SOL) @R294 and long AngloGold (ANG) R314 and then stuck in some wider reaching short positions.
Of course ANG promptly announced its bond issue and the share price took a bit of a smack beneath R300.
Interesting to see there is a bit of a buzz in the gold price despite the equity rally - we're sitting around between 920 and 930...
I took a couple of positions on Monday - long Sasol (SOL) @R294 and long AngloGold (ANG) R314 and then stuck in some wider reaching short positions.
Of course ANG promptly announced its bond issue and the share price took a bit of a smack beneath R300.
Interesting to see there is a bit of a buzz in the gold price despite the equity rally - we're sitting around between 920 and 930...
Wednesday, September 17, 2008
Rand to be hit?
Does anyone else get the schnarkies that the Rand is about to take an almighty klap??
I've been watching the action in the US and locally and suddenly in the last few minutes Gold has rocketed some 50 odd dollars and the gold shares are on a mission.
Harmony, Gold Fields and AngloGold Ashanti are up in excess of 10% and gold doesn't look like its planning to stop.
In between this the Rand has slipped to R8.22 to the US dollar...
This is great for my Impala shares and for my dollar earnings but will play absolute havoc with the local South African economy (Inflation and debt issues will continue to rise).
I just get the horrible feeling we're about to see a huge selloff of emerging market currencies as people pull their money back into their home balance sheets.
I think I will just keep patting my IMP on the head for the moment... Time for these things to fly....
I've been watching the action in the US and locally and suddenly in the last few minutes Gold has rocketed some 50 odd dollars and the gold shares are on a mission.
Harmony, Gold Fields and AngloGold Ashanti are up in excess of 10% and gold doesn't look like its planning to stop.
In between this the Rand has slipped to R8.22 to the US dollar...
This is great for my Impala shares and for my dollar earnings but will play absolute havoc with the local South African economy (Inflation and debt issues will continue to rise).
I just get the horrible feeling we're about to see a huge selloff of emerging market currencies as people pull their money back into their home balance sheets.
I think I will just keep patting my IMP on the head for the moment... Time for these things to fly....
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