There was a general rise in ASX gold sector today due to weaker US economy, hence less chance of rate rise by Federal Reserve. Spot gold price jumped $US30-35 on the news. When you think about it isn't logical. CYL is a long way from production and we can't predict what the the gold price will be when they start to pour. Current producers probably have their price locked in to contracts so the rise in gold price today is irrelevant for them too. Certainty of a rise in long term gold price would be another story but there's no indication of that. Anyone care to comment on why the market reacts so?
NIce rise today, page-2
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Last
$2.79 |
Change
-0.030(1.06%) |
Mkt cap ! $629.9M | |||
| Open | High | Low | Value | Volume |
| $2.79 | $2.84 | $2.69 | $2.048M | 739.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $2.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.79 | 390 | 1 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| CYL (ASX) Chart |