Gold Price - Where is it heading?

[wayneL]

Easy calc... POG in USD, divided by exchange rate, equals POG in AUD.

The lower the denominator, the higher the price in AUD.

 

[Stockbailx]

hard to say? The price of the AUD insinuates the price of AUS Gold. I don't know the price of Australian Gold but I know the AUD is, going either way if not falling, but looks to be climbing in the long term as I speak. decreasing the POG in Australia. I also know that the XAU/USD has been climbing this morning and looks to decline. Good Question! Early Days?

Looked up the price Australian spot Gold and see that it is declining as the AUD climbs. I've got to re-neg on my comments about the XAU/USD as it should climb on the back of a weaker USD...I don't mean to confuse the subject but I'm trying to re-numerate how the price of XAU/USD can be calculated and forcast of the back of the AUD/USD.

 

[eskys]

I don't mean to say you confused me, Stockybalz, I simply didn't understand how to put one and two together (I'm a basic person and it doesn't take much to confuse me at the best of times)

I think it was towards the end of last week or was it at the weekend, that I asked gg how that worked when he said gold will go up if AUD went down(I think that was what he said) I later realised I was talking about Fuji apples and he, about Pink Ladies, sort of apple speak

 

[Telamelo]

Maybe I should just forget about how it affects gold in Aus, Stockybalz. I only know gold in USD. My main interest is; how it will affect the price of gold shares....thank you for your reply by the way

Following link below provides both US & AUD Gold price in real time

Gold Price in Australian Dollar (AUD) - Live Price and Historical Chart | GoldBroker.com

Gold price in AUD (Australian Dollar). Historical chart and real-time quote (live price per gram, ounce, kilo) on the LBMA, yearly performance in Australian Dollar.

goldbroker.com

 

[eskys]

Thanks, Tela, that's handy to know

 

[Stockbailx]

Here's a different site for looking up the price of spot Gold. All the different country's, very user friendly.

Spot Gold

This page displays charts of the current price of gold, otherwise known as the spot gold price. The spot gold price refers to the price at which gold may be bought and sold right now, as opposed to a date in the future. The spot price for gold is in a constant state of flux, and can be driven by...

goldprice.org

 

[Captain_Chaza]

GOLD is no longer a RARE Commodity!

I Repeat!

GOLD is no longer a RARE Commodity

There is Tons of GOLD in Uganda

Who on EARTH needs any more than this?

This is more Gold than that has ever been mined in History

This is How you Deflate the price of GOLD IMHO

Supply (RARETY) is Everything!

 

[Sean K]

GOLD is no longer a RARE Commodity!

I Repeat!

GOLD is no longer a RARE Commodity

There is Tons of GOLD in Uganda

Who on EARTH needs any more than this?

This is more Gold than that has ever been mined in History

This is How you Deflate the price of GOLD IMHO

Supply (RARETY) is Everything!

LOL ???

 

[Stockbailx]

That's a lot of Gold, who ever owns that gig, would be one happy digger. Trade it all in, and he could bye Uganda.

 

[Captain_Chaza]

LOL ???

I dare you to buy any New Gold Stocks!

IN REAL TIME!

Proof of your new ownership is REQUIRED by me if you want to make a point
Otherwise
Little Faces and Squirts are fine

 

[Sean K]

I dare you to buy any New Gold Stocks!

IN REAL TIME!

Proof of your new ownership is REQUIRED by me if you want to make a point
Otherwise
Little Faces and Squirts are fine

I read about this a week ago Chaza. It looks like it's based on an undisclosed aerial survey. So, slightly not in the 'inferred' JORC category yet.

 

[ducati916]

I dare you to buy any New Gold Stocks!

IN REAL TIME!

Proof of your new ownership is REQUIRED by me if you want to make a point
Otherwise
Little Faces and Squirts are fine

So from 1 tonne of gold ore you can extract grammes. The richest mine in the world currently extracts 44g/tonne. If we used that number then we have 31Mg x44 = 997 troy oz +/- x44 which is 35T gold x44 = 1540 tonnes of .999 gold +/-

Hardly worth getting that excited about. Further, it will not all be mined immediately, setting up a mining operation takes lots of time and capital. Further, this is Africa we are talking about...the corruption almost guarantees a total clusterf**k in the process.

So I'll just add:

Bought EQX 15mins ago:


October expiry, CALLS at $7.50 @ $0.24 x 10

jog on
duc

 

[Garpal Gumnut]

Gold is up at the moment. So what happens if gold goes up in USD and our dollar goes up too? Will gold go down or up? This is a genuine question because I'm very confused about how forex affects the gold

GOLD is no longer a RARE Commodity!

I Repeat!

GOLD is no longer a RARE Commodity

There is Tons of GOLD in Uganda

Who on EARTH needs any more than this?

This is more Gold than that has ever been mined in History

This is How you Deflate the price of GOLD IMHO

Supply (RARETY) is Everything!

This guy from Uganda is a particular kind of monster only found in the Great Lakes area of that continent which include Rwanda.

He is a mass murderer, liar, cheat, manipulator of elections and corrupt in the extreme.

I would take anything he says with a pinch of salt.

I happen to have a bridge over Sydney Harbour near Circular Quay that I can sell you quite cheaply if you are interested.



gg

 

[eskys]

This guy from Uganda is a particular kind of monster only found in the Great Lakes area of that continent which include Rwanda.

He is a mass murderer, liar, cheat, manipulator of elections and corrupt in the extreme.

I would take anything he says with a pinch of salt.

I happen to have a bridge over Sydney Harbour near Circular Quay that I can sell you quite cheaply if you are interested.



gg

We had a rough night overseas, and as far as I can see, gold was the only one up, so my take is...........gold will hold ok and likely go up, but don't take my word for it, please ( I absolve myself of all liabilities)

 

[Stockbailx]

We had a rough night overseas, and as far as I can see, gold was the only one up, so my take is...........gold will hold ok and likely go up, but don't take my word for it, please ( I absolve myself of all liabilities)

On the back of a strong USD, I see POG XAU/USD falling bearish this morning and looking at an oversold short term position. For my two cents in the long term should continue on that path for most of the day. I think It will break though support 1818.0.
How ever with that been said the POG AU is up on the back of a weaker Australian Dollar, Up 0.50% @ 2,630.0 and climbing, should be a good day for AU Gold.
And Not so good for US Gold that is moderating its position at this present time...

 

[eskys]

Yes, I see what you mean, Stocky.

 

[eskys]

Wondering if our gold stocks will hold up over the weekend...gold down USD 4.17 at the moment, pre market in the green....Tela, are you about? EVN looking good ...I can't decide what to do

 

[Sean K]

Wondering if our gold stocks will hold up over the weekend...gold down USD 4.17 at the moment, pre market in the green....Tela, are you about? EVN looking good ...I can't decide what to do

All the major gold miners are up at the moment. I think you need to work out an investment / trading style and plan eskys.

 

[eskys]

I'll take the risk and run it, Sean. Thanks (don't follow my lead, people, this is a risk I'm prepared to take, may not suit you)

 

[Telamelo]

Wondering if our gold stocks will hold up over the weekend...gold down USD 4.17 at the moment, pre market in the green....Tela, are you about? EVN looking good ...I can't decide what to do

My Goldie's EVN, WGX & TUL doing very well today (luckily/fortunately got in this past week around the low's as am bullish on Gold mid-longer term).

Good Luck!

P.S. Not investment advice per say but my suggestion is to shortlist gold stocks you are interested in & review their fundamentals/charts/upcoming catalysts etc. and when there's a pullback perhaps start building up a position in them over time but it all depends on your trading plan/goals etc.