ASX listed gold stocks will be front and centre on investors' minds today, following another increase in the price of gold - in the local money.
A global equity sell-off has sent spot gold to US$1155 an ounce, as at 9:30am in Sydney, Australia.
And with the AUD / USD 0.734, this prices the yellow metal at A$1560 an ounce.
At these prices expect gold producers and pending producers to start boosting their hedge books, while at the smaller exploration end keep a look out for opportunistic bids.
Many Australian domiciled gold producers have All-In-Sustaining-Costs of under A$1100 an ounce, and some several hundred dollars less than this, providing significant margins.
At the moment Evolution Mining’s (ASX:EVN) and Zijin Mining Group Co., Ltd’s (SHA:601899, HKG:2899) are competing for Phoenix Gold (ASX:PXG).
Shine will come back to the ASX-listed gold sector, it simply has to at these prices.
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