So, currently the difference in Fx is this.
From the peak in Aug 6, 2020 POG in USD is down 11.95%
in AUD its down 18.55%
Hence the aussie golds getting beaten around as they mostly derive their revenue in AUD.
However, someone alluded to the fact POG (USD) would have to increase rapidly to counter AUD rising. Somewhat true but if AUD is rising generally USD is dropping so when USD drops, POG (generally) rises.
But it was interesting to see the disparity % wise on the 2 denominations since the peak last year.
Why is NST the third most shorted?, page-132
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