Ok pretty interesting overnight action End of month usd gold...

Ok pretty interesting overnight action

End of month usd gold failed to recover and push over last month at 1208

Pog aud continues to rise, finishing 10$ over the qtrly average of q 3, a month to go and its at or above 1446, thats positive.

Gdx that lost another 2 million shares in the etf, well the manager van eck found them and its shares on issue rose back to 312 m. Probably has to do with the changes in short contracts being closed on comex

Usa gdp, revised lower, and now on contraction. Many excuses and reasons being spread around, weather, consumer spending, lower capex of oilers, but clearly higher usd has not been good and there is no chance of a rate hike in june.

Bond markets are reflecting this data with big falls over the last few weeks but still gold remains below 50 100 200 dma. Even the fall in usd brought no end of month releif.

The new traders invention of 2015, " the rig count" again resulted in a stella flash trade with oil racing higher.

More stimulus required goven the numbers, and the greece problem is simply dampening euro confidence imo.

1555 aud, not bad not bad at all.

Ubs and citi downgrade was the big dampner this week imv, newcrest has the ability to change this strong perception by coming out and declaring it will restart dividends andnthat any assets value adjustments will be nuetral given that cadia will be revised up given ts deposit size, its margin, mine life etc

Well see,


More rate cuts expected in oz which should also be good for the top line revenue.........rba has saved its ammo for times like these with substantially higher rates than its peers allowing it to push its currency towards 70 cents if it chooses.

See how we go ayy