Byron
Assumptions are based on longer term assumptions - many believe th aid will readjust, specially if interest rate diff with the rest of the world reduces
You will also note the most analysts use LT assumptions that are often 20-30 % of spot , sometimes higher.
So in reality it boils down to a view of whether you think the assumptions will be close to reality or not.
Agree with EL that you can't look at aud and ignore POG in AUD
Spot and long term expectations are often very different - this is why iron ore stocks like MgX trade a such low PE multiples - expectations of spot moving quickly. If ozl from the view that aud is staying above 1 dollar and gold spot within be much lower I am sure they will recalculate
Lastly - you have a sell view and don't hold which is fair enough based in your views
EL has a long term buy based on his
Arguing is uselless - you simply disagree - professional brokers disagree so why the passion in your disagreement.
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