Home » Industry News » Spot gold holds above US$1200oz, lower Australian dollar helps local producers

Spot gold holds above US$1200oz, lower Australian dollar helps local producers

Gold in the patch market is currently trading slightly softer at US$1203 an ounce.

Softening the cocain from the autumn in the price of the yellow metal for Australian Stock Exchange gold producers, with municipal production, is a dropping Australian Dollar compared to the U.S. Dollar. With the judge down to AUD / USD 0.892965, this prices gold in the local currency at around A$1340 an ounce.

Lately Glenn Stevens, governor of the Reserve Bank of Australia, said the dollar was “unsustainable” in the US90c constitute and the RBA stood ready to intervene should it arise too high again.

If the Australian Dollar continues to decease against the U.S. Dollar – and the value of a gold ounce relic the same in U.S. Dollars – then ASX registered gold producers will get more captivating.

 

This article comes from eBullion, Inc. US Stock Symbol(EBML) shares of listed companies to reprint, please indicate the source