Gold $423.20 Silver $6.72 Australia Day, night-time.
G'day. Happy Australia Day to anyone who gives a toss. It's been a long one and we've had a ball enjoying what Sydney has to offer. In fact we may well have a guest contribution tomorrow from an American describing her first Australia Day. That should be a fun read and I know I'm looking forward to it.
Anyway, we have overdone the festivities and am not making all that much sense at present. (Is that unusual?). Without pi$$ing in anyone's pocket, I reckon we picked yesterday's levels like a crusty nose. The silver price found its way down to the devils number (6.66). I note it is now 1% higher. Hmmm. Maybe we will see somewhere in the high 6.40's but am sure the physical market will step up and soak up plenty of real metal again. The range is looking more like $6.55-6.80 and I expect a pop out the top sooner rather than later (not advice).
Gold went from the top of my range ($428) to the bottom (421) all in one silly session. Never advice but I like $420-21 with stop below $417. Let's see what gives. The 200DMA seems quite magnetic at present but doubt that it can stay long if it gets there.
The Amex Gold Bugs Index (HUI) copped a flogging and I note that Golden Star Resources (GSS) copped nearly 10% hiding on good volume. Others only copped 5% . Whatever. No margin calls means no real pain, unless ya sell. The 200 level has held again, but some colleagues reckon I'm gunna be running naked down Walker Street when we bust 180.... After today's sun, my fluorescent white backside will probably show up on satellite pictures, but I'm still very happy with that level.
The mare sale is back on, again, but my price is NOT negotiable anymore and I know where any proceeds are headed. Not advice.
The kids are sunburnt, the adults are pleasantly pickled, the weather was a scorcher and the Harbour was magnificent..
I know why Australia is known as the lucky country and Lisa may share her thoughts on such tomorrow.
Enjoy your 26th of January. You will. It's Australia Day.
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