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
$1.41 |
Change
-0.010(0.71%) |
Mkt cap ! $1.444B | |||
| Open | High | Low | Value | Volume |
| $1.39 | $1.43 | $1.38 | $4.261M | 3.030M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 76864 | $1.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.41 | 50010 | 3 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| WAF (ASX) Chart |