http://www.kitco.com/charts/livegold.html

cheers GF.

Harry gold is always the safe haven during times of political uncertainty.

The volume of trade is certainly picking up , which looks positive. And let's face it, this stock has had the hell beaten out of it !

HSBC Underweight 126.50 126.50 40.00 82.00 Retains

numbers at the back of this week i recollect

Notwithstanding we're down in early trading on asset write down, considering this is the most shorted stock, my view is we head back up towards £2.

Some of these broker views make me laugh, or maybe cry ! I'm not sure which.

6 weeks back they were saying buy and it was dropping like a stone. Now it is going up strongly they are saying sell. !!

Strange.

it's called "sell into the rally" and it may be a sensible call too

I am confused too.

I think, their views are somehow biased depending on which side of the trade they are and what they want, or have to, do at the time.

That's rather cynical ahoj, do you really think brokers try to manipulate prices to suit themselves (surely not), rather than what direction they think the sp really will go.
2517

well i have now banked a reasonable profit from a few days trading

Gold seems to be stengthening so happy to hang on for a while.
2517

Agreed George.

With gold now moving over $1400. and I am hearing more positive vibes from some of the pundits, the prospects seem better for the sector , I reckon.

Staying here too and also accumulating physical gold ETF's

I'm now comfortably in profit and (for me) over weight here.

it'll depend on how m/e shambles pans out
in the meantime, it would not be surprising to see the markets taking no prisoners of any description

Half Yearly Results

Highlights

H1 2013 Results
- Record half-year revenues of US$597 million, up 9% on H2 2012 revenues, notwithstanding a decrease in the average gold spot price
- US$83 million net cash from operating activities, up 79% year-on-year
- Total cash costs ("TCC/oz") (hard-rock mines) of US$1,136/oz1 (US$740 in H1 2012); significant improvement expected in H2
- US$1,579/oz average realised gold price, including US$84/oz benefit from hedging
- Forward gold sales outstanding as at 1 July 2013:
- 219,400oz at forward price of US$1,664/oz for H2 2013
- 145,700oz at forward price of US$1,494/oz for H1 2014
- Since 30 June 2013, further forward gold sales were put in place:
- 95,000oz at a price of US$1,313/oz for H2 FY2013
- 62,000oz at a price of US$1,412/oz for Q3 FY2014
- Net debt reduced to US$1.15 billion compared to the peak (c.US$1.2 billion) in March 2013
- Cash and equivalents of c.US$59 million and committed undrawn facilities of US$123.4 million (excluding US$219.6 million for IRC)
- Capital expenditure (excluding exploration) of US$149 million, a 43% decrease year-on-year
- Comprehensive cash optimisation programme launched:
- Hedging programme implemented to limit downside exposure to price volatility
- Non-essential capital expenditure postponed (c.US$150 million deferred)
- Central administration costs savings of c.US$6 million and c.US$13 million expected in FY 2013 and FY 2014 respectively
- Operating costs expected to be reduced by c.US$12 million in FY 2013 and c.US$58 - US$68 million in FY 2014
- The net loss for the period was US$742.2 million, compared to an US$11.0million profit for H1 2012
- Lower gold price environment has led to a non-cash, post-tax impairment of c.US$358 million of goodwill and mining assets and $62.2 million of Tokur exploration and evaluation assets
- The Group's annual review of its exploration and evaluation assets resulted in an additional US$31.2 million impairment
- A further US$143 million impairment of IRC assets was due to IRC's net assets being adjusted to fair value, based on IRC's share price of HK$0.85 as at 30 June 2013
- The Group assessed the recoverability of the carrying value of its ore stockpiles and recorded post-tax impairment charges of c.US$35 million
_________________
1 Including US$22.1 million (US$14.1 million in H1 2012) depreciation of prospective stripping undertaken in prior periods which contributed US$78/oz (US$53/oz in H1 2012) to TCC/oz for hard-rock mines



FY 2013 Outlook
- 760,000 - 780,000oz production forecast for FY 2013 maintained
- Higher production in H2 due to higher grades and increased seasonal alluvial and heap leach production
- FY 2013 total cash costs (hard rock mines) expected to be lower than guidance, driven by:
- Higher production in H2
- A decrease in stripping across all mine sites
- On-going impact of cash optimisation programme
- Capex anticipated to be substantially less than H1 with full year target now US$220 million
- Net debt (exclusive of IRC) at year-end expected to fall below US$1 billion
- No interim dividend given volatile environment; dividend to be reviewed at year-end
- On-going review of 2014 production schedules -market update anticipated in Q4 2013

seems i wasn't so dumb for a change just a few days ago

Indeed, glad i got out at the open with a nice profit...