The devil has arrived. Gold falls by $85au which is 29% drop in RMS profit in 24hrs if RMS cash cost is $1,200.
If gold drops anther $100 per ounce, 50% of RMS profit will be wiped out. They will have to seriously think about shelving Mt Magnet.
If gold reaching anywhere hand a chance of reaching $1,800 soon gold would take off at $1,400au.
If the investment banks and market makers believed in gold surely they would be buying up.
The fall in gold leads me to believe that investors are selling out and buying up cheap companies which will have give better short and long term returns. Income is everything.
29% of rms profit lost in 24hrs.
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Last
$2.27 |
Change
-0.030(1.30%) |
Mkt cap ! $2.606B | |||
| Open | High | Low | Value | Volume |
| $2.27 | $2.29 | $2.22 | $7.884M | 3.493M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 29957 | $2.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.28 | 319256 | 8 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| RMS (ASX) Chart |