Hey Sharks, Agree withyou totally: I don't see it as a "safe haven." It's apparently considered a safe haven because of the Gold production and export. However, it's defintely trended lower and inverse to Gold price for the last 12 months. What's keeping the AUD/USD above 50c though? Especically with the QE announced by RBA - that'll devalue the currency, surely.
https://www.babypips.com/learn/forex/as-gold-as-it-gets - they state:Gold has a positive correlation with AUD/USD.
When gold goes up, AUD/USD goes up. When gold goes down, AUD/USD goes down.
Historically, AUD/USD has had a whopping 80% correlation to the price of gold
