The major problem as I see it is that as the USD collapses and the AUD appreciates Gold may be 2000 usd but only relative to the USD. The current spike in the POG to USD has NOT been reflected in the AUD which has actually fallen.For example, on the 9th marthe POG was 938USD/AUD1485 where as today the POG USD 953/AUD1360.
Especially when looking at producers who are on tight margins for extraction costs a strong AUD is going to make their businesses less profitable and more prone to failure...
T
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gold has fallen in aud!
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