Commodities
Gold Price Hovers Around $US4,000 Amid Shift in World Order
The outlook for precious metals like gold is looking up, according to Evolution Mining's head of market darling Lawrie Conway.
In a volatile world dominated by two major wars and high inflation, Conway told the Diggers and Dealers Mining Forum that the shift in the world order will be good for metal prices.
The spot price of gold is currently hovering around $US4,000 an ounce, after touching an all-time high of $US5,589.38 an ounce on January 28.
Conway believes Evolution, a major NSW-based gold and copper miner, is in a good position due to its high-margin business, which means it generates more cash per ounce of gold produced than anyone else.