looks like its just a crashing USD - dropped 0.75 cents to 99.681
AUD POG is higher at $1595 - basically the AUD POG has done nothing for around 4 weeks but the share prices of our goldie producrs have risen 30-40% on the back of strong demand for north American goldies and significant rise of GDXJ/GDX/HUI which was supported by a USD95 increase in the POG.
GDXJ and HUI now both up around 2.5%, GDX up 3%. With gold now at USD1212, at present the market does not seem to believe this rally will be sustained given the so far relatively muted increases in the goldie ETFs.
It is all based on speculation and not a lot of substance so anything can happen within a limited range. Perhaps USD POG will reach $1250 due to some further decline in the USD, but without some catalyst it will be short term rise as the USD is expected to head higher over 2017. Still a trade is a trade, so make the most of it. Gold/goldies usually start to decline in late Feb/early March and this can continue into June/July/August (unless we get another BREXIT-line event).
loki
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