What if gold keep going down and Australian dollar too. For exple 2 interest rate cut will make A$ go down to 60to70.
I feel when this happens only Australian Gold producers will benefit from this. The price of NCM will go up. That is even if gold goes down.
Correct me IF I am wrong.
For example: gold is USD 750 and A$ is 1.14(1US$) = 750*1.14 = 855 !!!!! Gold is USD 750 and A$ is 1.25(1US$) = 750*1.25 = 937 !!!!!
AM I correct???? Please correct me If am wrong!!!
So once RBA Reduce inerest rate NCM will take off. Even other commoditiy producers. We dont care whether gold goes down, as long as A$ goes down. 50cents is a possible call by me!
good luck!!!
NCM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held