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Aussie Gold within sight of A$1700 an ounce

Thursday, February 11, 2016 by Proactive Investors

Australian Dollars is currently A$1690 an ounce

Australian Dollars is currently A$1690 an ounce

Gold is the shining sector currently on volatile global equity markets, with this especially evident for Australian gold producers and explorers.

Spot gold last traded at US$1209 an ounce (1pm Sydney, Australia, time).

But when priced in the local money and taking into account the foreign exchange rate of AUD / USD 0.71244, this prices gold in Australian Dollars at A$1690 an ounce.

Australian gold producers currently have the triple benefit of the rising price of gold, while costs of fuel and labour are falling.

 

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