GOLD 0.51% $1,391.7 gold futures

banks shorting gold - not forced selling, page-45

  1. 7,424 Posts.
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    S8

    It would be missleading to view Chinese and Russian gold purchases in isolation.

    The Chinese and the Russians have been reportly selling USD denominated assets and USDs and moving into a range of other assets. Part of that money has found its way into Australia. A major reason for the advance of the AUD from parity to 1.10 earlier this year was the foreign central bank purchase of AUD bonds.

    I think that the real story isn't rising price of gold (or AUD and AUD bonds). It is the falling price of the USDs.

    Good luck
 
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