gg, how does that translate into the price in gold shares?
gg, how does that translate into the price in gold shares?Gold $USD1812
$AUD2691
So the decrease in Gold price in $USD has made Gold approx $AUD10 higher in 2weeks as the AUD/USD falls.
Interesting times.
gg
To be honest I haven't been following Aussie Gold stocks since last year.gg, how does that translate into the price in gold shares?
It must be noted that Your DXY chart above is horribly out of date
FOUR (4) weeks out of date
It seems Everything has changed a Month ago
This all about "The Now" and
Not October when the DXY was in a different Hemisphere
View attachment 153604
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Salute and Stay Safe & Dry
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Your $DXY chart has all the appearances of the beginning of an EW Wave 3 btw.
jog on
duc
CORRECT!So, if we agree that the dollar index will go up, that means it's not good for gold (that's how I understand it) We need the dollar to come down which will help commodities........is this correct, Captain, gg, Dave, anyone?
@eskys yes that is the case regarding the us$ index but then you have overlay the au$-us$ exchange rate on top of that because we are dealing in Australian Dollars. It's a two step relationship. After you do it a few times you get use to how to think about it.So, if we agree that the dollar index will go up, that means it's not good for gold (that's how I understand it) We need the dollar to come down which will help commodities........is this correct, Captain, gg, Dave, anyone?
Except ALL Commodity contracts are signed in The World's Reserve Currency USD ( The Big Buck) and That's the Conundrum@eskys yes that is the case regarding the us$ index but then you have overlay the au$-us$ exchange rate on top of that because we are dealing in Australian Dollars. It's a two step relationship. After you do it a few times you get use to how to think about it.
Not quite true, the yuan is creeping in, slowly, but for intents , yes, the USD is still the dominant.Except ALL Commodity contracts are signed in The World's Reserve Currency USD ( The Big Buck) and That's the Conundrum
Not quite true, the yuan is creeping in, slowly, but for intents , yes, the USD is still the dominant.
Yeah, go to Africa, and the pacific Islands and you will find the cits demand USD in cash.Have watched quite a few 'experts' talking about the shift away from USD as the reserve currency for everything. It's hard to see this transition happening overnight, but the BRICs seem pretty keen to follow this up, and obviously when a nation goes to war and the international community can turn off their access to Swift and freeze money in USD accounts then it's a worry for them. I think China will be much better prepared than Russia was before they invade Taiwan. Watch this space.
Yeah, go to Africa, and the pacific Islands and you will find the cits demand USD in cash.
Its universally acceptable, everyone knows its "value", and you can buy anything in USD.
Try bribing an African dictator in Yuan or Roubles.
Mick
Yes, well, everyone has bought gold during mid last year to last month, The Russian cousins, The Chinese cousins, the Saudi cousins, The Indian cousins and me.GLD's price has just turned up into a price zone coming from price highs in Nov 2011, Feb 2012 and Oct 2012.
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This price zone has been both supportive and resistive to price on a number of occasions through 2020, 2021 and 2022, but price has also been able to push through this zone a number of times during this period of time.
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Using a standard MACD indicator on the Daily chart to show momentum, it can be seen that the MACD line has just crossed the signal line as the price came up into this zone. My proprietary indicators are also showing me that short-term momentum is up with the $AUS-USD trending down at the moment which would be supportive of a bullish position. The question is, will this short-term momentum continue to grow in strength driving the market up through this zone. For me it's a question of the time zone that you are looking at, to trade this move up I would want to be in three bars ago because on the weekly or daily time frame it's still a counter trend move. It's just at that very awkward position on the daily chart right now where it has the potential to turn south at any moment.
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