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Gold in AUD, GOLD.AX, PMDS and Australian issues
Mags
post Posted: Sep 20 2020, 12:17 PM
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In Reply To: mullokintyre's post @ Sep 20 2020, 09:36 AM

QUOTE
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.


 
mullokintyre
post Posted: Sep 20 2020, 09:36 AM
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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





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mullokintyre
post Posted: Jun 2 2020, 07:10 PM
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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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mullokintyre
post Posted: Mar 25 2020, 09:51 AM
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In Reply To: mullokintyre's post @ Mar 24 2020, 08:13 AM

Gold hits another record. AUD2740 as I type.
All my gold shares bar DCN which is STILL in a trading halt are well up on last two day, some up 20% plus.
Am now only 10% down since the start of the CV free fall.
Hoping to get into the green if things keep going.
Mick



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mullokintyre
post Posted: Mar 24 2020, 08:13 AM
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Gold now nudging AUD 2700.
Must start to have a positive effect on gold producers, assuming they c@n g3t workers in and out to work on mines.
Mick




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cooderman
post Posted: Mar 19 2020, 08:54 AM
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In Reply To: mullokintyre's post @ Mar 18 2020, 03:24 PM

Yeah Mick , all things remain the same.

9th March Close price for XAUUSD....... $1679. AUDUSD close..... .6583. Gold Aud. $2550
Yesterdays close.... " $1485 " " .5770. " " $2573

Tried to edit it so it lined up, but I give up on that.


 

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mullokintyre
post Posted: Mar 18 2020, 03:24 PM
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It appears the markets have woken up to the fact that gold in AUD has not changed at all since the Cv plunge started, and that the OZ gold stocks will still be able to make the same profits as before the CV pandemic started.
Thus we have seen from the lows of Monday and some Tuesday, we have
ALK 20% from its low,
EVN up 24% from its low
RMS up 14% from its low,
SBM up 29% from its low
SLR up 21% from its low.

Even that dog PRX is up 35% from its (abysmal) low.

Mick





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mullokintyre
post Posted: Mar 18 2020, 10:04 AM
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In Reply To: mullokintyre's post @ Mar 10 2020, 09:33 AM

As the AUD falls,so the AU goes up.
Gold approaching AU2600.
Sold the SBM I bought the other day, a 40% profit was too good to pass up.

Mick



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mullokintyre
post Posted: Mar 10 2020, 09:33 AM
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So gold is now above 2500 in AUD.
But still the gold stocks get trashed like all the rest.
When ya margin calls, it shouts.
Bought into ALK, RMS, SBM and EVN.
All producers, all making good money.
Some even pay a dividend!.
SLR didn't fall as afr as some of the others, have not had my low ball order triggered.
Mick



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nipper
post Posted: Feb 1 2020, 03:34 PM
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In Reply To: mullokintyre's post @ Feb 1 2020, 03:20 PM

noticed that. Swollen digit?



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