Gold is rapidly approaching a critical support level around $US 1,800, and if it fails to find support here on a weekly basis it could quickly drop to $1,600 or even 1,560. Two weeks ago I would have thought it impossible, but even as I'm writing this gold is off another $30/oz to $1,806 so it's continuing to take a massive beating. I've been watching WAF closely for 2-3 months looking for a potential entry, but if that support level is broken it could be a really volatile and white-knuckle ride for investors, so holding off for now. I agree that being an unhedged producer probably amplifies the moves both ways.
Gold is rapidly approaching a critical support level around $US...
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Last
$1.60 |
Change
0.060(3.90%) |
Mkt cap ! $1.644B | |||
| Open | High | Low | Value | Volume |
| $1.57 | $1.60 | $1.55 | $4.876M | 3.079M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7041 | $1.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 42818 | 7 |
View Market Depth
| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| WAF (ASX) Chart |