It is at times like what they did today where I look at the action as a straight forex play... it certainly provides a soft cushion to the overall NZD Gold Price.
In NZD, I am currently waiting to settle a property purchase later this year - which I am funding solely with the yellow stuff. Once the "handle" has been completed, I expect the Ag Price to continue higher... with the property purchase price being naturally discounted more and more.
In AUD, I am visiting my daughter in Perth in about 3 weeks time - which I am also funding solely with the yellow stuff (so no cross rate to worry about). Seems there is a bit more of the "cup" to be completed first but same story as the NZD above.
These shites can't have it both ways - but I'm happy to play their game...
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