Bell Potter

The last two weeks have seen the US$ gold price come off its recent high of US$1,366/oz, a level not seen since March 2014. In the last 12-months, Millennium Minerals (MOY) is up 840%, and Dacian Gold (DCN) is up 726%. Bullion and gold equities have had a great run and this pullback has prompted many in the market to wonder whether it’s time to head for the exits. While some of the charts later in this pack show that prices have become a little extended, they are not at extremes. What about market interest? Is it saturated? Are cabbies telling you how much they made out of Golden Rim (GMR) the last four weeks? In this report, we run through a current market theme and key company releases from the last week. Also includes a gold-producers’ comparison table.


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