Gold has continued it's run from last week.
Currently consolidating around the $1,250 range.
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I'm guessing the consensus view has started to come around to December being the last rate hike.
Aussie Gold price has also had a bit of help from the RBA, after they announced that they may cut interest rates and even start applying QE...
Not a very positive outlook for the AUD or the Australian economy but signals a very good time to buy Gold as the AUD and USD will likely start to devalue from here on in.
I can't see the POG going much lower from here as long as the Fed and RBA continue with their strong dovish tone and the markets keep doing their thing...
The next rate hike decision is announced on the 20th of December at 2pm US EST.
No rate rate hike or a rake hike then "wait and see" approach should put a decent rocket under the POG, especially under the current market conditions.
Turn around/new producer stories for 2019 will probably see DCN, RSG & RMS all do really well.
All 3 are currently producing around 20okoz p.a. and are looking to increase this number.
Their charts are still looking a bit ordinary but seem to have now found a bottom with the rising Gold price.
DCN - Daily Chart
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RSG - Daily Chart
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RMS - Daily Chart
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(20min delay)
