Index Analysis XGD
XGD – All Ordinaries Gold (Sub Industry)
XGD serves as a barometer for the Australian gold industry and price is looking shaky. We can see that the 5000 level has provided some resistance and with current movement lower potentially cause for concern. If underlying shares prices can not extend higher then we would expect to see the shine come out of the sector for a while as Spot Gold comes under pressure.
Index Code : XGD – All Ordinaries Gold (Sub Industry)
Current Price : 4787
Status : Watching for lower highs and selling pressure