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Gold in AUD


arty

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Gold going down as the AUD goes up.

Not sure why the AUD is so attractive.

You would think that with every country dipping into QE, so many asset classes down, that PM's would have rocketed, but not so.

Doesn't really make a lot of sense, but thats the market.

Mick

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Gold is currently in a bit of aholding pattern (at least in AUD terms).

A quick look at the 5 year gold chart sees a flat period from 2015 at around 1600 to sep 2018 when it was still 1600.

It then had a pretty much continual rise from then to early this year when it hit 2600 and stayed there before a quck 200 dollar fall, then a climb up to its recent 2800 high before returning to the 2600 current levels where it has settled.

Unless there is another earth shattering event (like a war, Trump winning retaining his job as POTOS, or Collingwood winning the AFL premiership), I suespect we will stay at these levels for while.

Have stated to sell down my overly large gold portfolio to shift into property (not houses, but bare land),

Mick

 

http://www.kitconet.com/charts/metals/gold/2a-aud-us-5y-Large.gif

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Unless there is another earth shattering event (like a war, Trump winning retaining his job as POTOS, or Collingwood winning the AFL premiership), I suespect we will stay at these levels for while.

Have stated to sell down my overly large gold portfolio to shift into property (not houses, but bare land),

 

Interesting observations.

Firstly I agree in concept with your land idea: Hard assets are where the value is. But must be wary of not over paying.

The world (Australia particularly) is a wash will middle class stimulus spending: Job seeker, job keeper and the .much less spoken about super redraws. Speaking with those in the car industry it's totally nuts: Used cars are selling like crazy: People that couldn't get a car loan (and I mean how dire are your finances if you can't borrow for a car?) have now got $20 k out of super and gone nuts: Interesting they bought used over new, the new car industry is stuffed, it's in a 2 year slide, with only ABN buyers and instant write off keeping the ute sales alive.

I'm even hearing of families 'pooling' their super money so the kids can get a house deposit... good lord.

So I personally wouldn't sell precious metals: I don't really see anything as risk free ATM.

That said, the pandemic is nowhere near ended, claims of a vaccine are optimistic, if not outright fraudulent.

We've seen upto 1/3rd of the world in some form of lock down, here in Australia 20% of the economy is in a police state to remain at home >23hrs a day.

And yet stock markets are near record highs???

Pullleeeaassseee. This doesn't make one scrap of sense.

If your parking your money in assets that are propped up by borrowing, jobkeeper, jobseeker or super redraws... be vary vigilant: Crash is likely incoming.

 

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