Gold US$1290.50
AUD 0.8940
Australian dollar gold is now $1443.50 meaning cash margins of hundreds of dollars an ounce after all in sustaining costs for our best local producers.
Today's news about the Australian unemployment rate being higher than expected and hitting a 10 year high is negative for our dollar which has fallen 1% on this news and is back below 90 cents. A lower AUD is good news for all Australian based exporters and of course our gold miners as gold is currently internationally priced in US dollars.
Gold US$1290.50AUD 0.8940Australian dollar gold is now $1443.50...
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