The XJO continues to travel in a sideways channel, while Chinese lending figures raised concerns about the health of its economy. New yuan loans in July fell to their lowest levels since 2009, causing Asian markets to fall. 

The XJO has still had a decent month, only sliding 1.3% in an uncertain global economic environment.  It is still well above both its 52 week low of 6411, and its 13 week low of 6998. 

The XJO was largely flat throughout the past week, with the index encountering a weak open this morning. It was sitting around 7200 just before midday – comfortably higher than its 200 day weighted moving average of 7248 and its 50 day weighted moving average of 7289. The index’s 52 week high currently stands just over 7567.

Gold is showing signs of strength around the US$1930/oz mark, as it refuses to venture too far away from its crucial US$2000/oz level.

Join us tomorrow, Thursday 17th of August at 1pm (AEST) to hear from Anthony Reilly, Managing Director and CEO of Felix Gold (ASX: FXG), where he will explain the recent drilling results from their flagship Treasure Creek prospect in Alaska and forthcoming maiden resource. Click here to book in or request a replay.

Anthony will discuss their proximity to an ore-hungry mill and why they could be an imminent acquisition target. Felix has released 45 assays from their infill drilling program, with some significant gold intercepts that are significantly higher grade than the neighbouring Fort Knox mine.

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Felix Gold Ltd and may receive fees for its services.

You should only act on the information we provide if you are confident that you fully understand what you are doing. Past returns do not always indicate future returns, and it is also possible to make significant losses. There is always a risk of loss when investing.

Reach refers to Reach Financial Group Pty Ltd (ABN 17 090 611 680) that holds Australian Financial Services Licence (AFSL) 333297 and to its related entities and Corporate Authorised Representatives (CAR) Reach Markets Pty Ltd (ABN 36 145 312 232) (CAR No: 431191) and Reach Corporate Pty Ltd (ABN 76 638 960 540) (CAR No:1281636). Reach offers investment opportunities for self-directed investors; you need to have the experience and capabilities to analyse the investment and make your own decision that it is suitable for you. Contact Reach on 1300 805 795, (03) 8080 5795, admin@reachmarkets.com.au or visit www.reachmarkets.com.au for further details.