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The price of gold has hit US$4,300/oz overnight as the SP500 worried about the US credit market, driven by some less-than-ideal headlines out of the banking sector.
With that and the fact of Australia’s weaker than expected jobs data on Thursday, the local market is tipped to decline -0.2% on Friday, though, we could still stay in the 9,000 range.
At any rate, the price of gold indicates it’s still a good time to be in gold miners. Defence darlings have sold off for much of this week and when it comes to REEs, that really depends on where you are. Which could come down to luck more than genius.
As for ASX company news,
Talga Group has moved to terminate a Swedish JV with SQM on the back of what’s reportedly a failure from Swedish authorities to clarify strategic priorities,
PainCheck is on the most watched list early morning as the company reports a new hire it says will boost its reach when it comes to its pain monitoring app for infants, and,
Lode Resources could go either way after reporting its drilling team intercepted antimony at its Magwood acreage in NSW at a grade of over 30%.
Looking at commodities:
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