Gold should march to a different beat

As I call for a near-term decline in the AUD versus the USD, we should see correlated (sympathetic) performance across commodities prices, by which I mean in energy, agricultural (softs) and industrial metals but I don’t expect that to be the case for precious metals.

Especially for Gold.

The chart below shows 2 periods over the past year where the USD Gold price (in blue) has not moved in its ‘expected’ synchronicity with the (denoted in orange) AUD/USD currency rate.

Clients will be receiving specific commentary overnight.

January 17, 2021
by Rob Zdravevski
rob@karriasset.com.au