Gold is shining in Oz
The gold price in Australian dollars has climbed to a new record above $1,800 an ounce as the Australian dollar has declined in foreign-exchange markets.
Investors seeking promising gold miners should look Down Under, says Markus Bussler in German business weekly Der Aktionr. Unlike their North American counterparts, local producers didn't binge on acquisitions at the peak of the gold bull market in 2010 and 2011, so their balance sheets are virtually debt-free, helping them take over peers in North America now.
The gold price expressed in Australian dollars has climbed to a new record peak above $1,800 an ounce as the Australian dollar has declined in foreign-exchange markets. Australian producers make their sales in the local currency, while operating costs are around $1,200 an ounce, so margins are healthy. Northern Star and Saracen Mineral are worth researching.
Barry Ritholtz, Ritholtz.com