Aussie gold price depends on exchange rate - so.....?

Discussion in 'Currencies' started by SteveS, Oct 8, 2016.

  1. SteveS

    SteveS New Member

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    Given that the price of gold in Australia is in part determined by the USD:AUD rate, how do folks on here see that going over the next year or so, and why?
     
  2. ego2spare

    ego2spare Active Member

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    U have been a member for 53 days, and made 646 posts.
     
  3. JulieW

    JulieW Well-Known Member Silver Stacker

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    Enquiring and opinionated. What's not to like?

    I expect AUD gold to be a record before the end of the year. I expect the US dollar to go from strength to strength and the AUD to slide again. The POG will rise again to nearer 1400.

    Or
    US Russia war and all bets are off.

    VIX currently 13.56 - markets expect steady as she goes.
     
  4. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Yeh, thanks for all the good comments and interesting questions Steve.
     
  5. ego2spare

    ego2spare Active Member

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    I know right!? Thats like 12 a day..
     
  6. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Yeh, but Steve's one of our better SilverStackers, so more posts from him is good isn't it.
     
  7. SteveS

    SteveS New Member

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    So does anybody else have any opinion regarding where the USD:AUD rate might go in the future? The only thing that I know has a direct bearing on forex is interest rates, but there's more to it than that, right? The strength of the respective economies?

    The exchange rate doesn't have to move much to have a significant impact on the gold price in Australia.
     
  8. silver kook

    silver kook Active Member

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    Nobody knows what will happen in the future. If we did we wouldn't tell you anyway as we would be too busy being rich and spending our not so hard earned money. My crystal balls are on the blink. What I am trying to say is that it is all guess work and your guess is as good as mine.
     
  9. Peter

    Peter Well-Known Member

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    Id say aud down.
    What does Australia have going for it.

    I'd agree that gold is partly a form of currency
    speculation.
    Who cares what its price is in usd.
    Its what its price is in your home currency, that counts.
     
  10. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    If the USD goes from strength to strength then gold will fall. If the USD goes from strength to strength then the AUD will fall. If the USD goes from strength to strength then the price of gold in AUD terms will remain fairly constant.

    I have no opinion as to whether the USD will in fact go from strength to strength. From my reading of the charts though, I don't see anything to suggest any interruption to a rising gold price, or at the least, a sudden dramatic downturn.
     
  11. silver kook

    silver kook Active Member

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    At the start of the year I recall seeing an article in the paper where most experts predicted the dollar would be sitting at 50 US so even the "experts" can't predict it.
     
  12. SilverDJ

    SilverDJ Well-Known Member

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    Like most people I really thought the AUD was going to tank down to 60c or something but it recovered and has held brilliantly and I was holding USD accordingly.
    Bit I'm done trying to call it and hold the currency in both income (a lot of my income is in USD) and also buyin stuff in USD, I now just buy and sell at the current price and be done with it.
     

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