Not everyone thinks that gold is a safe haven.
Look at the overall market both last night in the US and today in Aus... Its risk off in a broad sell off of most sectors. Bond markets are calling bull$hit on the Feds rate cuts and are now pricing in rates being higher for longer, which is usually bad for gold. If the markets are heading for a pullback or correction due to rate bets changing and conflicts scaling up around the world and DEG is sitting in a position without full funding through to production I think its understandable for it to be pulling back.
For the record I'm going no where but unless we find the funding the gold in the ground is useless to us. I'm not even suggesting that we wont get it... but it may cost more hence the pullback.... if the funding was completely sorted we would should be for a rerate more as the gold price rises.
Could be completely wrong on all of it but that's how I'm seeing it atm.
Not everyone thinks that gold is a safe haven. Look at the...
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Last
$1.23 |
Change
-0.017(1.36%) |
Mkt cap ! $2.277B | |||
| Open | High | Low | Value | Volume |
| $1.17 | $1.27 | $1.15 | $24.38M | 19.87M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 23550 | $1.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.24 | 313766 | 5 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
$1.23 |
Change
-0.017 ( 1.32 %) |
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| Open | High | Low | Volume | ||
| $1.31 | $1.31 | $1.16 | 3556027 | ||
| Last updated 15.59pm 10/05/2024 ? | |||||
| DEG (ASX) Chart |