opec put floor under oil and that is good for gold

OPEC met and agreed to cut oil production by 1 million barrels/day to ensure that oil does not fall further and remains at US$60+ barrel.
Global oil demand is and will continue to grow and the large oil inventories in the US will fall during the northern winter.
This is very good for gold and oil will soon provide the impetus for gold to rise towards US$700/oz in the months ahead.
NCM remains the most undervalued gold producer globally and is now very close to being unhedged wrt it's copper production.(of 100,000 tonnes per annum)