IDK but my guess is ozzy producers seem to be confirming/ leading further downside in gold
US big money probably knows gold will be smashed down to 1600- 1650 and are positioning accordingly. Miners often lead the pog because of this... its a rigged game for the elite US funds and traders.
XAUAUD will be supported on AUD weakness, but when they pull money out of sector they don't discriminate. SLR, NST , EVN etc will be fairly insulated on the cash flow front if this happens IMO due to majority XAUAUD exposure, but won't stop them taking a further SP spanking which may provide a good entry if it plays out.
I made a small entry into NST, SLR last week because they starting to look very cheap if gold stays range bound at 1750-1800, but both could see a further 15-20 even 30% decline if gold does breakdown into the low 1600 range imo as it would confirm a longer bearish trend and big funds will just go elsewhere.
This is still a falling knife, but could be forgiven for taking a snatch at it
IDK but my guess is ozzy producers seem to be confirming/...
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Last
$1.41 |
Change
-0.020(1.40%) |
Mkt cap ! $1.313B | |||
| Open | High | Low | Value | Volume |
| $1.43 | $1.43 | $1.40 | $4.033M | 2.855M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 56277 | $1.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.41 | 11390 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.41 |
Change
-0.020 ( 1.36 %) |
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| Open | High | Low | Volume | ||
| $1.42 | $1.43 | $1.40 | 958941 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| SLR (ASX) Chart |