I'd like to see an overlay Chart of US equities prices (SP500) and gold stock indices (XAUUSD, HUI, XAU, GDX, GDXJ whatever -XAUUSD is perhaps best). Also an overlay of DXY vs XAUUSD
My purely anecdotal observation is that when equities rise, gold rises with them (contrary to proponents of an equities collapse and associated gold boom). I'd do it myself now, but too exhausted. Perhaps someone can oblige. Or maybe I can stay awake long enough and sober enough to do it myself, after a nap.
The AUD is well under 0.73c (0.7290) and falling like a stone...(and POGAUD very close to AUD 1,750), which I don't consider a big deal, nor $1,800, it only takes another 1 penny fall to 0.71c or so (with POGUSD not even moving) , and it's happening right now. We were at 0.68c a couple of months ago.
It's a no-brainer.
I've asked this next question before, numerous times and never gotten a straight answer. What is better for ASX listed gold miners, a falling AUD, which clearly helps the sale price for local producers - aka "conventional wisdom" - or a falling (plunging) USD - and hence rising AUD (contrary to above) - which lowers the cost to global consumers of all USD denominated commodities (oil, gold, etc), causing such commodities to soar in price, subsuming local currency fluctuations. You can't have it both ways.
I suggest the latter, and further suggest that many of the recent rises we've seen in gold stock prices are almost entirely related to to falling (plunging) USD i.e. DXY currency related....such as after the recent unexpected BOJ announcement (a week ago???) which kept rates and QE as is, causing a plunge in USD (and rise in AUD) and more importantly, gold price to surge (due to plunging USD), which is not falling as I write, and hasn't for some days now. {And so defying the conventional wisdom....which is rarely wise}
P.S I prefer the more modern and broader index "USDOLLAR" from DJ Indices/FXCM.
Thanks:
Chart USDOLLAR - DAILY
Chart AUDUSD: DAILY:
Chart; XAUUSD - DAILY:
Chart: XAUAUD - DAILY (all are real time):
