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atomic79

4,388 Posts.

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20/02/21

10:03

Post #: 51177110
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Originally posted by pete11: ↑

hi guys, of course non of us gold bulls are happy that the price of gold was AUD$2850 a few months ago and now its back to AUD$2267, thats only a mere 21% drop, during the late 1970s there was a time gold dropped 50% before going up x8 , so bare that in mind next time you panic. the only reason gold here is falling is because for some ridiculous reason the AUD$ is now US78.8, i dont understand that for the life of me, there is QE till infinity here in australia now with the RBA creating $100b every month out of thin air, alot of businesses are still struggling, sure some miners are doing well but main street, the mums and dads in real life are struggling, sure big gina and twiggy might be raking it in but they dont represent the real aussie battler do they? of course not.
the AUD$ should be under 65c US if you ask me, considering the number of businesses that have gone broke and are struggling, especailly as job keeper ends in a month and many people wil get laid off, and the RBA probably agrees, its not like they can cut % rates they are already at 0.1% so unless they go negative the AUD$ could keep going up for some crazy reason.

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One word me ole mate....commodities....
Move that dirt...
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