gold, page-111

2 months of congestion in XAUUSD I can live with but AUDUSD has just broken the top yesterday and a continuation rally so I see 0.80 is a natural attraction. If one is holding goldies, this is where the separation of low cost defensive play comes in against the recent collapsed producers of yesteryears that had been rallying hard for 3 months.

Now I have been observing the IOP which have gathered momentum and 6 handle in front! That will further drag the AUD up. Goldman Sach have been saying for sometime that second half of the year is where IOP could return to the downward long term mean. I am in 2 minds if I should start looking at the beaten IO producers or wait.