Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

0.51%

$1,391.7 gold futures

gold, page-92313

First 92313 Last

Share
Profile

Follow
Max5

10,975 Posts.

566

13/02/21

18:44

Post #: 50960593
Share

Originally posted by speculator101: ↑

Hey PF, as always, I appreciate you sharing your chart and views.
Do you have any thoughts on why the ASX gold sector, has been hit harder than most?
Rising AUD? Proportionally higher government fiscal response to the pandemic? A higher run-up in the AUD POG last year, versus the U.S?

As I firstly counter that, with most producers based in the ASX, having not been affected by the pandemic, versus other producers (and even then miners have proven very adept overseas and mitigating the virus too.
Fuel costs are still well below their peak.
Hedging continues to run down, which is pushing the average price received higher, even with a somewhat reduced POG.

One thing that keeps nibbling at the back of my mind, is the selling in gold... a precursor to a major event (liquidity issue) in the financial markets... or.. as many are discussing, a myriad of other reasons (like... it still being a play thing of the commercial banks (which are inherently part of the reserve bank cartel etc).

Currently reading Devil Takes the Hindmost... very enlightening.

Expand

Probably mainly the relentless AUD strengthening over the last year I'm guessing ? USD gold prices down about 10% from peak last year but still up about 16.5% on a year ago but in Aussie down over 17% from peak and price now virtually the same as a year ago. And of course the fickle 'herd sentiment' and risk on/off background which attaches I suppose.
2 Upvote

0 Great analysis

Reply

Top Stories

FG1

Flynn Gold reaches milestone exploration target for Golden Ridge

MMI

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

HotCopper Highlights: Your most watched and most discussed stocks this week

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Trump is President Again: What Does This Mean for Crypto?

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

IMU

Imugene kicks off Australian trial for blood cancer treatment