Of course it could go down to 2.48, anything is possible I...

Of course it could go down to 2.48, anything is possible I guess, seems a bit drastic but its already been going down the wntire time gold has been gaining really

Gold USD is 2 and a bit % off its resent short term high of 1553.  Very solid high velocity test of 1500 with FX and major rates moves overnight on trade deal seemingly assured

In terms of SBM share price,

Check out the divergence in prices of SPOT GOLD AUD and SBM share price since start of 2019.

AUD gold price up 22% vs SBM which is down 32% over the same period.  Sure there has been a couple of DIVS out, a guidance lowering, guidance recovery, transaction, but still quite a large divergence considering the price appreciation of gold aud, especially since may

The equity does not seem to have benefited at all from the rise in the price of the widget it sells.  Even on a one or three month case at SBM or a swag of other mid tier producers it looks like a Constanza trade, gold equities have done the exact opposite to GOLD aud prices of late.



and a view from just before this financial year when gold really took off in AUD terms, not as severe but still quite large