Gold / Second Chance

Gold / Second Chance: there's been constant news coverage on the influx of cash to be released into financial mkts by the major central banks, leading to asset inflation . Gold has been a beneficiary given its perception as a hedge to inflation. Second Chance is one possible proxy to the recent pick up in gold prices. Although the co owns just one gold retail store, Golden Chance at Tanjong Katong Complex, the store is located at the heart of the key Malay shopping district. Co also commented previously that it has the lion's share of the Malay gold jewelery mkt in Spore. The gold business contributed 35% of 12MFY12 revenue. Second Chance changed its FY12 to end in Aug, from Jun previously, so that it can continue to incorporate revenues from the peak Ramadan season into current year financials. Its FYAug12 / 5QFY12 results will be out next month 18 Oct. The stock has been holding up at $0.415, the 52 wk high, and is just shy of its $0.43 all time high. A break above this level, catalysed by positive results, could lead to extended upward momentum.