Just to further touch on this point - as I believe I was the one referring to Forex headwinds - it is indeed playing out somewhat differently at the moment as far as the disparity. Obviously since the peak, but even since the time of your and my posts, gold has dropped off about 2.5-3% since then, while AUD is up about 0.5% over the same timeframe vs USD. Certainly a different trend than what is customary in this space. Looks like a temporary dislocation but for how long will this atypical trend play out, hmmmm
Why is NST the third most shorted?, page-156
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