The gold price combined with foreign exchange will likely create a floor around $ 2000 aud
1. Global instability caused a fall in gold to $1600 USDand around $2500 aud. The unpredictable market caused gold stocks to sell off. but rebounded because a rising USD caused inflation around the world.
3 Several banks collapsing without a significant change in gold demand and return to vulnerability suggests no significant change in market valuation or perception of gold.
3 Slowing economy resulting gold falling below $2000 usd, reinforces a likely price retrace in the event of a recession. Fear of a US default is spooking the gold market. Summary.
$2 trillion in gold held by foreign governments. A debt default could result in a gold sell off as the USD falls, Central banks could lose 40% value of gold holdings. Too top heavy in a recession is a sovereign risk.
In a recession or global crisis our dollar might fall back to 55 to 60 cents again and gold to $1200 usd.
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