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Aud 1587 Stronger greenback helps Aussie gold hold on to its...

  1. 1,630 Posts.
    Aud 1587

    Stronger greenback helps Aussie gold hold on to its luster

    A stronger greenback is playing into the hands of Australian prospectors, with the bullion price in Australian dollar terms relatively stable since the start of 2015, according to Surbiton's director, Sandra Close.

    "Despite lower gold prices in US dollar terms, the depreciation of the Australian dollar is proving a blessing for Australian gold producers," Close said. "Although the gold price averaged $1,192 per ounce in the June quarter, the Australian dollar gold price averaged A$1,532 ($1098.60) per ounce."

    Source: *****
 
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