I just realised I forgot to include in the list above, perhaps the most important factor, going forward, for the Aussie dollar price of gold....
You guessed it:
The Aussie Dollar!
Here is a lost of our top export partners from 2023, note the top three, accounting for a massive 35.2% of Australia exports:
And, here is a list of Trump's recent tariffs; you can include South Korea at 25%!
There's nothing else to say, Australia is in big trouble, and if this situation persists it's pretty easy to see the AUD falling sharply from here. The record low (I believe - haven't checked) against the USD is .47c back in 2001. This is a wake up call for our country, digging stuff out of the ground and sending offshore is not enough. For God's sake, add value to those resources and utilise any other talent this country has to start making something the world actually wants to buy from us. Compete on quality and ingenuity, because no chance of competing on price given our energy and comparable labour costs and government overregulation. On the positive side, countries ex-USA, will find ways to stimulate their economies and incentivise production. New trade accords will be put together and this will help us overcome the current malaise - this will take time, and not sure if it will be enough.
In the meantime, I believe Gold becomes our most important resource. The RBA should have been stockpiling gold like there's no tomorrow to sure up our national reserves but too busy enjoying their tax payer- funded lunches and myriad other perks, I guess.
(20min delay)