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DRDGOLD Ltd. Message Board

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  • ahhaha2 ahhaha2 Apr 28, 2004 1:59 PM Flag

    rand weakening...

    [But as soon as pog will go up again so will the f!�"cking Rand!]

    I don't agree. The political situation in SA has significantly changed. The currency fundamental position and the market state of the rand has changed. Whereas there's still some anti-correlation between the dollar and rand, when gold rises again likely in conjunction with a weakening of the dollar, the rand will not strengthen much at all. As long as gold holds its current level a weakening rand is leverage to DROOY in contrast to non SA golds.

    Further small point: every trade money flow is positively diverging from price and the near term divergence is equivalent to $3 DROOY. The long term flow is at the same level that it was a year ago or so when DROOY hit $4. This major positive divergence is extremely constructive.