LGL 0.00% $4.48 lihir gold limited.

breakout

  1. 203 Posts.
    To all the doubters and the weak hands. LGL has today broken out of the tight trading range it has been in in total mimicry of the American Gold Bugs Index the HUI. Last night the HUI broke out with a 5.5% hike. Not surprisingly, decent Oz gold stock have followed suit. Now we shall see the gold stocks play some catch up on the gold price and hopefully launch LGL above the A$4.20 to A$4.50 overhanging supply area. Once this is cleared the road is open to higher prices. With the Fed set to lower the coupon on its T Bonds by a further 50 bp shortly, inflation in the US is galloping along. So gold is headed a lot higher than US$1,000 per ounce!
 
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