Market Update & Important Indicators
US shares broke a 3-day losing streak to close slightly higher as markets digested the US rate hike; The US Durable goods for August was significantly above expectations, the headline was +4.5% against estimates of 2.0%; The USD rose with the DXY up over 50bp to 94.89 and sent gold to a 6 week low; Spot gold traded down over $10 to $1,184/oz the GDXJ fell 2%; Metals also fell as the USD rose, as LME metals prices declined on average by 1.5%; Gascoyne Resources confirms an additional $5m SPP overnight, which sees the company’s recent raisings amount to $24m; The funds raised will offer as additional financial flexibility for their WA based Dalgaranga Gold Project, as they ramp up to commercial production expected in the December quarter.
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