Yes having a breather before its next run to break 1800oz USD
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I have just been reviewing an article by Colin Twiggs - he suggests that the "Australian Dollar will fall if China executes on its trade threats. And if the Aussie Dollar falls, the POG in AUD will therfore rise. If the AUD POG rises, Aussie gold miners would benefit as their revenues rise relative to their costs. He says "Gold (in AUD) is already in a strong up-trend, with narrow consolidation above $2600/ounce suggesting continuation." "The All Ordinaries Gold Index is headed for a test of resistance at 8650. Breakout above 8650 would offer a short-term target of 9500 but the long-term target is 11500."
Yes I could see that happening .. IMHO AUD Gold will break $3,000oz
Gold Shares are the place to be currently and for the rest of the year IMHO .... my biggest Holding OBM which I paid 10.2c average during March20 touched 24.5c yesterday .. has a BIG next 6months coming up before heading into Gold Production 1Q21 .... going off peers and AUD Gold outlook one would think a conservative SP would see 40-50c
Is this a first ? Craig's promoting gold investment.
https://www.nzherald.co.nz/business/...ectid=12334526
"We like gold, it's a good, sensible choice to have in a portfolio," said Mark Lister, head of private wealth at Craigs Investment Partners.
Cautious Craigs might be a bit late to the party. If you draw a monthly chart it shows the POG in US$ rising since early last year. The OZ$ gold price looks even better. Mind you the party could last for a long time given the amount of Quantative Easing taking place around the world.
Yeah well better late than never ...I guess
I see 90 countries are requesting bailouts from the IMF>>>
Silver a better Bullion play
I see very bearish patterns forming in gold and silver at present.
Attachment 11630
as I do with many share charts and indexes at the moment