the struggle for 30, page-14

Yes, $US is under pressure. ($US has lost 10% to the $A and 13% to the Euro in just 2 weeks)

However, while an increase of $US10/oz in gold price equates to earnings increase of $A17m, earnings also remain sensitive to FX rate & Copper price.

eg: minus 5c(US)/lb move copper price = minus $A9m ebit.
plus 1c move on $A to $US = minus $A20m ebit.
[Spot Gold price in $A terms has barely moved over the past 2 weeks, despite US$85 increase]

imo, $30 will remain strong resistance while $A continues to move higher vs $US.