Re-visiting recent Sell Gold call

On March 25th, 2023, I made a call to sell Gold exposure priced in Australian Dollars.

Sell AUD Gold exposure

The high on that day of trading was A$3,021…..for the next 2 months it barely budged above that price.

There made little sense to continue being exposed to risk hoping that Gold moved into higher stratospheres.

From that A$3,000 level, AUD Gold has now declined 6% to trade at A$2,834 at the time of writing this.

While 6% may seem trivial, it isn’t to gold producers and speculators in the futures market.

This follow up note doesn’t represent smugness rather it’s revisiting past decisions and opinions and provides validity to my work which suggested not chasing AUD priced Gold at those levels based on empirical and probability observations.

The odds said so.

Today, AUD Gold isn’t a buy either. It may be around A$2,660 but I’ll write about that later.

June 15, 2023

by Rob Zdravevski

rob@karriasset.com.au