RE:Moving in the right directionWe'll have to wait and see what Old Yellen has to say, but by my calculations, we are now at FCF breakeven POG. Every dollar over $1,287/oz nets EDV $420,000 in FCF.
Pretty sure that we'll see some volatility around her statement, but in reality her inaugural message should be fairly predictable and benign; the positive price action in gold has been pricing this in the last couple of days. Market doesn't believe she'll come out with a game-changer yet...