| The price of an ounce of gold climbed again overnight in New York, adding 1.3% to US$1,156.20 an ounce. A falling U.S. Dollar did take the shine off a touch based in the local money, but the FX rate of AUD / USD 0.7196 has Aussie Dollar Gold back over A$1600 an ounce.
Not only are domestic Australian gold producers benefiting from higher gold prices in Australian Dollar terms, but they are also reducing costs from lower fuel bills and a greater access to labour...............................................Full Article: Source
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