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Gold in AUD


arty

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Very well worth reading IMO:

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Trading In Tandem: Gold and the Australian Dollar

Monday May 27, 2013 08:33

 

 

 

""""""The Australian dollar, also known as a "commodity currency" has taken it on the chin in recent weeks.

 

Since early May, the "Aussie" as it is known affectionately by forex traders has fallen over 7% versus the U.S. dollar. Why should gold investors care? Behind China, Australia was the world's second largest gold producer in 2012.

 

Figure 1 below, shows an overlay of nearby Comex gold futures (in red) over the spot AUD/USD (Australian dollar/U.S. dollar) daily price. Marc Chandler, global head of currency strategy at Brown Brothers Harriman, said the current gold/Australian dollar correction stands a .52. "In mid April, the correlation was .15. The correlation has tightened," he said. """""

 

etc etc

 

Link:

http://www.kitco.com/ind/Brecht/2013-05-27...ian-Dollar.html

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Good news for those ASX gold producers that remain solvent and profitable to day's economic news has had immediate effects in that the AUD/USD rate dropped markedly, making gold in AUD worth $1458poz, with USD Gold worth $1401 right now.
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Good news for those ASX gold producers that remain solvent and profitable to day's economic news has had immediate effects in that the AUD/USD rate dropped markedly, making gold in AUD worth $1458poz, with USD Gold worth $1401 right now.

 

Even better news this holiday morning, right now gold is USD1385 but AUD1467, if this difference in values continues and maybe even widens then those solvent and already profitable ASX gold miners tomorrow might even start to outperform.

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  • 1 year later...
This is TA only.(not interested in FOMC meetings,US money printing etc,etc). The AUD price of Gold has broken out of a prolonged consolidation zone.There may or may not be a small pullback from current levels,however in the near and intermediate term,the AUD price of Gold should riseÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦.should be good for Gold stocks. Hooray!
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Deutsche Bank maintains a ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“sellÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ recommendation on Newcrest Mining and has a price target on the gold miner of $8.10 a share.

 

Read more: http://www.smh.com.au/business/markets/nee...l#ixzz3LLgUVejc

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  • 1 month later...
Deutsche Bank maintains a "sell" recommendation on Newcrest Mining and has a price target on the gold miner of $8.10 a share.

 

Read more: http://www.smh.com.au/business/markets/nee...l#ixzz3LLgUVejc

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How wrong can Deutsche Bank be--and many others--- only six short weeks ago--NCM as of Friday was $13.80

 

Any ASX gold producer with AIST's of around $1000 is making very heady profits of around 60% for each ounce cast: eg: NST, DRM, SAR

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http://www.kitconet.com/charts/metals/gold/t24_au_en_auoz_2.gif

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