Despite a spike in bond rates and US dollar index the POG has proved very resilient - it is down by only less than $US10 relative to the price just before the CPI data release. And in $A it’s up now approaching $A3,600. I find the lack of any material reduction in the POG to be very encouraging but then it has been defying past relationships to US bond rates and US dollar index for a number of months.
Despite a spike in bond rates and US dollar index the POG has...
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