redback report, week ending 7 december, 2012, page-2

Update on the Aud Gold.

The chart I showed in the Weekly Report showed AUD Gold as at the end of trade on Thursday, New York time. More or less equivalent to a chart for the exchange traded fund in Australia, ticker symbol GOLD.

Here's the chart for AUD Gold as at the end of trading Friday, New York time (i.e., Saturday morning in Australia).

This is very close to giving off a buy signal. A break above the short term down trend line would complete the picture.

Here's the chart for ASX GOLD (the tracking stock for AUD Gold):

A cursory inspection of the two graphs shows a high correlation between the two.

We can expect a small increase in the ASX Gold on Monday.

Redbacka