I just had a quick look at my UK shares after checking in on my Aussie junior gold co's - the UK goldies & smaller miners are up way more than here - its really odd. Anyone else noticed this - FTSE and AIM up, ASX still relatively subdued compared to other exchanges I thought - but that's probably got something to do with the Aussie $ nearly hitting US$1.06 on Thurs/Friday.
Agree, if you were an overseas buyer and you were almost certain the Aussie dollar was going to fall in the future then investing in anything in Aussie dollars would be risky from their point of view. Not only that but it means the price for Gold in Aussie dollars is also relatively cheap so this would play on the juniors Revenue, if they are running at a profit then a falling Aussie dollar would help to realise further gains. I think next year will be the single best year for Aussie PM miners, after that they will probably start getting hit with supplementary taxes and on the slow road to nationalisation. Buy em now and Sell em towards the end of next year.
Hmmm.. Now I look again I didn't see closing prices on Friday - AZH up 11.7%, CHZ up 4.65% - even Bassari up 5.4% - I'm stunned... My UK shares were bought in Sterling so they've been battling against the rising Aussie since 2008 - hoping they'll gain before I have to repatriate sales to Oz - I can only keep them offshore until 2015 otherwise I'll get a capital tax charge, so thinking what to do against the backdrop of all this EU liquidity, dropping USD / GBP / Euro against AUD too...
