This must be taken in the context of the A$ which has dropped today to 74.5!! The actual price of gold in US$ is US$1314. E.G. "If" the A$ was 78 cents, the price of gold would be A$1,684.60.
It's primarily the collapse in the A$ that is the major factor to take into consideration at the moment, with the actual rise in the price of gold in US$ being the "Trump" factor, currently re Iran. Fluctuates.
Maybe LNY management are smarter than they look and are just waiting for the A$ to be where they think it is heading?
Ann: Quarterly Activities Report, page-37
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