It's hard to say what actually drives what.
My assumption would be that higher gold implies inflation and at least moderate growth. That then implies the Oz economy will be doing well and so interest rates here would tend to increase. Higher interest rate differential then drives the AUD higher.
I'm currently long AUD/YEN
AUD
australian dollar
Add to My Watchlist
0.00%
!
1.5309

correlation between gold and audusd pair, page-10
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.