Gold (in AUD) up for 2014

trew

trew

Active Member
Silver Stacker
a fact to ponder.....

Gold started 2014 at $1350 and is now $1470 with a few days left in the year

9% rise
 
what was silver though at start of year?
Answering my own question, around A$22? I'm calculating down 11.8% from one site and down 9.8% from another. So about of that order
 
CORRECTION

GOLD should be DOWN in US dollars from the 1st or 2nd of January 2014 to now.......

Gold 1st January 2014 close: $1205.89 - 26th December 2014 - $1195.82 ? From Netdania
Gold 2nd January 2014 close: $1.225.00 - 23rd December 2014 - $1175.75 From Kitco
Gold 1st January 2014 close: $1.202.30 - 26th December 2014 - $1195.30 From goldprice.org
Gold 1st January 2014 close: $1.204.90 - 25th December 2014 - $1173.60 From abcbullion
Gold 1st January 2014 close: $1.205.05 - 26th December 2014 - $1195.82 From usagold

....and so on......

There are so many sources around..... it really depends.....

What's the source are you looking at ?


- ok in OZ dollars - around : 1st january 2014 $1356.01 to 26th December 2014 $1469.66

You are right trew..... perhaps our dollar fluctuation helped......
 
finicky said:
what was silver though at start of year?
Answering my own question, around A$22? I'm calculating down 11.8% from one site and down 9.8% from another. So about of that order
Click to expand...
If the denominator (AUD) is the factor to base distinctions on, then golds story should be the same as silvers.
If you see mixed claims around sites then it has to be due to using different denominators.
I visit Kitco.
I click on Historical Charts > Gold
I check 2014 under "Yearly Gold Charts".
I click on View Data
I see now a table titled GOLD 2014 London PM Fix - USD
Left up, januari 2, 1225.00
Right below, december 23, 1175.75
So, same judgement method (close to year to date), gold is 100*1225-1175.75/1225=4% down in USD, so if there is a 9% rise in AUD then it's due to a USD versus AUD change, so not the gold but fiat market side. That's something to ponder about.

The choice of denominator (USD, AUD, whatever) doesn't make a difference on the gold versus silver judgement.
So, if one sees different, then it's because people base conclusions on comparisons of price-mixes of AUD, USD, etc.
By selecting different denominators, and also different time frames (start day, end day), one can predraw a whole range of conclusions, up to as far as those crossing the zero (positive to negative or vice versa).
Year to date judgements are highly selectable.
A much more reality reflecting / reliable precious metal market judgement is based on price averages over a period.
2013's gold average was USD 1411.23
2014's gold average is at the moment (with little bias due to close to end of year) USD 1266.97.
That's -10.22% for gold.
The similar judgement for silver is -19.66%
Some say buy weak.
 
trader10 said:
GOLD should be DOWN from the 1st or 2nd of January 2014 to now.......
What's the source are you looking at ?
Click to expand...

he's looking at a source quoting AUD - see title
 
It's a similar story for a pile of currencies (yen, ruble etc.). I would actually posit that gold is up if you look at international prices. Really it's just US dollar strength that's made it look down, and then not by much. If you look at the gsr, gold to oil or pretty much every other commodity gold is up with a few exceptions (palladium notable here).

If gold is up against a while host of currencies and other commodities and really only down very slightly against the USD is it really down?
 
It's a shame it's traded in US dollars. But not for long IMO.

Up in AUD, down in USD but only by about $20. Perhaps that gap will close further before the year is out.

So much for the $1050 by years end predictions.
 
No1joey said:
It's a shame it's traded in US dollars. But not for long IMO.

Up in AUD, down in USD but only by about $20. Perhaps that gap will close further before the year is out.

So much for the $1050 by years end predictions.
Click to expand...
I've read numerous times that the USD reserve currency usage is not for long anymore. That it's waning. That China, BRICS and Fred Flintstone get rid of it.
Yet, figures on http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt and http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/ticarchives.aspx show the very opposite trend.
Download the zips with the historical data, the mfh.txt files in it. You'll see this for the Grand Total evolution:
Dec 1999 1244.9
Dec 2001 1042.0
Aug 2002 1101.6
Jan 2003 1240.4
Jan 2004 1576.7
Jan 2005 1960.3
Jan 2006 2187.6
Jan 2007 2239.7
Jan 2008 2402.5
Jan 2009 3072.2
Jan 2010 3706.1
Jan 2011 4453.4
Jan 2012 5048.0
Jan 2013 5643.0
Jan 2014 5841.3
Sep 2014 6060.4 (latest)
...with precisely China's government as biggest holder.
Wondering why is a good idea. There are some answers out there.
 
No1joey said:
Shanghai gold exchange will over take the LBMA soon just as China have overtaken the IMF as preferred lender for nations - http://www.bloombergview.com/articles/2014-12-25/china-steps-in-as-worlds-new-bank
Click to expand...


Because I honestly don't understand: what difference will that make?

The strength, or otherwise, of the British pound isn't shored up by the fact that London hosts the LBMA. So why will China be 'stronger' if it houses the largest gold exchange? Or, what will that do to the price?

The only difference I can see is if they make it a physical-only market, but then the Comex will still provide for those that just want to hedge in paper...

Or am I missing something?
 
JB3 said:
No1joey said:
Shanghai gold exchange will over take the LBMA soon just as China have overtaken the IMF as preferred lender for nations - http://www.bloombergview.com/articles/2014-12-25/china-steps-in-as-worlds-new-bank
Click to expand...


Because I honestly don't understand: what difference will that make?

The strength, or otherwise, of the British pound isn't shored up by the fact that London hosts the LBMA. So why will China be 'stronger' if it houses the largest gold exchange? Or, what will that do to the price?

The only difference I can see is if they make it a physical-only market, but then the Comex will still provide for those that just want to hedge in paper...

Or am I missing something?
Click to expand...

It might not make any difference to us but I am sure China would like the Shanghai exchange to become the gold capital of the world.

Don't know if someone posted this before -

LBMA Implosion By Reversal of its Own Gold Leverage

http://www.safehaven.com/article/36031/lbma-implosion-by-reversal-of-its-own-gold-leverage

IN SUMMARY

Physical gold is being withdrawn from the financial system especially at the London Bullion Market Association (LBMA) metals market


Reversal of the estimated 100:1 paper-to-physical metal gearing at the LBMA will lead to an accelerated collapse of the LBMA


Withdrawal of physical gold from the market is a secular trend that is accelerating due to the mispricing of gold and silver through the leveraged paper trading on the LBMA and NY COMEX markets


Investors should ignore the daily 'wave action' from the paper metals markets and focus on the unstoppable 'rising tide' that will lift precious metals to enormous heights
 
TreasureHunter said:
trew said:
a fact to ponder.....

Gold started 2014 at $1350 and is now $1470 with a few days left in the year

9% rise
Click to expand...

Indeed, gold is a hedge against currency devaluation.
Click to expand...
A pic of a muppet show scene fits here lol.
 
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