GOLD (COMEX) Gold charts

Originally posted by pete11 ↑

I think this is a cynical way of thinking, but if us aussies want our gold to go up, we want the AUD$ to basically crash, like in the above countries, gold has gone up if you were living in those countries, because your currency is buying less and less US$, so what has to happen for the AUD$ to drop to US$50c and below?

our economy will have to get worse and worse, Sydney and melb house prices would have to come down 20-30% , lots of people defaulting on their home loans and credit card debts, unemployment would have to go to 10%+ officially, govt would get less revenue so they will have to increase all sorts of taxes which in turn will slow consumer spending even more.
Vote in the greens? they will destroy the aussie economy under the scam of protecting the global climate, they will ban mining, they will ban mining and oil/gas exploration, they would probably put very tight restrictions on everything to do with the little industry we have left in Australia, they will put taxes up for business and the middle class, all to increase welfare for the unemployed, they will waste billions on foreign aid whilst peoples standard of living here goes down, and for the indigenous who get $30billion/yr now anyway.
So if you want our economy to collapse, vote in the greens and im sure gold in AUD$ will be way up.

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Th gold value comparison between the developed economies and EM is what it is, a clear reason why short term flow of money (opportunities) into EM until a trigger for those funds to flow back to the developed economies when yields/better opportunities draws them away.

Whether AUD, Cad, GBP or EUR valuation of gold they generally eventually follow USD quoted price in the short term. A reversion to the mean I suspect as you can see that gold in the developed ccy are all following suit, down. The bigger trend in XAUAUD is definitely up but these short term pullbacks can have amplified effects on the gold sector especially for those with diverged valuation. I wish I can say that any short term damage do not have long term issues for a particular gold stock but there are plenty of past examples of a 50% reduction in gold price caused the near death of weaker juniors.

You are either going to play larger swings or just just tolerate these volatility in the trend.