ASX takes on golden hue

AUD is pushing higher today:

Bonds are range trading:

XJO is stalled despite strong offshore leads:

Big Iron is up:

Big Gas is down:

Big Gold is off and running finally. Will the great ball of Millennials buy it?

Banks meh:

Big Chunt is so overvalued not even Nasdaq records can fire it up:

By rights, a global tech rally should leave Australia behind.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)


    • Think still in a range, 1500 to 1900, I expect the USD to start moving higher (maybe DXY weekness first)
      Be careful rushing into gold here, it’s come a long way in last 12 months

      Think you’ll get a better chance to buy – not sure about AUDGOLD 2300/2400 probably low for 3,000

  1. We are going to test GFC lows in ASX200, it’s going to be an absolute bloodbath….. maybe higher first but equities on every global index is going down hard

    ASX 200 not sure if we touch into, 2,000s, 3,000s more likely

    7190 high /2 = 3590 take off another 10% for these extreme idiotic moves, 3231 i think we will come close to

    It’s going to drag the AUD into low 50s

        • another reason to buy gold and aussie gold miners… RRL and SAR going nowhere today which is quite odd…. the explorers like DEG and BGL however are shooting the lights out…. Gold to US$2K/Oz by end July

          • I’d be careful being long any gold related equities
            Actually any commodity based equities
            We are going to see deflation first
            The Ponzi lovers are trying to hold off the deflationary crash
            Nature is too powerful
            The crash comes first
            Then the buying opportunities
            Make sure you have dry gunpowder
            Long term fantastic

            As USD rises and equities fall you’ll buy mining equities much much cheaper

          • @ Denis, I wish I knew, however DEG have found what appears to be 3 to 4 million Oz that one could almost scoop up out of the ground with a spade… its looking good…
            BGL have assembled what looks like a killer team from the NST old-days… if its to be a NST Mk II then its worth a punt on that alone… but their asset is a proposed re-start I think… DYOR!

          • USD is reserve currency
            Safe haven
            Nothing has changed
            You are very brave to bet against the USA

          • Brahmin Australian

            I’m not betting against the USD until the end of time. All I’m saying is the Aussie dollar will have an 8 in front of it before it has a 5.

        • Maybe but don’t be foolish to think we aren’t going to have the major crash first
          I’d buy AUST in the cinders
          We are going to burn down first
          Then get on board as we rebuild away from the Ponzi
          Solid 2 years away until the buying opportunities come
          Anyone long anything now is going to get nuked

          • Denis413MEMBER

            I’m afraid if we do crash, we will not move away from the Ponzi, if anything, it will accelerate it.

    • Not sure about the fx forecasts, bro, but you’ve got me on asx oversold. Didn’t think I’d get another opp to move all to cash, which I did yesterday. Picking the bottom will be difficult and the stick in your bearish forecasts is the stock of money earning nothing and the huge flows of new money to the rich. Since when did the ‘market’ last look at price and earnings; they’ve been decoupled from reality for quite some time

    • Still don’t get the hang of you here. Gold was good two weeks ago, and now not so good???
      Or are you just saying AUD is bad, so, Gold in AUD is good right now, but not Gold in USD?

      • Divya
        Over 5 years I believe gold will be much higher possibly through $3,000 USD….. where is the AUD then let’s say 60c, I think AUD might be 50c
        So I believe in 5 years Gold long long much higher maybe 6,000 AUD

        Over 2/3 month type period I think gold is in a range 1500/1900…..I think we may be a short term high for a pull back in USD maybe 1500s1600s

        Gold in AUD think 2200/2300/2400 type area is a very good buy

        So if you own say a small amount of gold let’s just say 4 ounces 10k AUD, just leave it for 5 years plus just leave it and forget it, but don’t forget where you hide it

        If you are larger and a medium type trader and want to buy larger amounts in USD then I’d wait for 1500s, I wouldn’t chase it

        Divya what I’ve said is if you are in your 30s say and your parents have brainwashed you that you have to own a home

        Rent and use your stamp duty to buy gold – who cares if you pay 2300 or 2500 2600 in AUD price

        If you are larger and trade in USD it makes a difference if a big player trades $200k to 500k and is waiting for a level to buy or hold physical and needs to hedge

        I think gold in USD is near a high for a pull back 1800s back to 1500s

        If you own a small amount in AUD forget about it, I cannot see it going back under 2,000 per ounce

        I thing gold is stronger than AUD, that is i can’t see gold in USD falling more than 10/15%

        I can see AUD falling 15/25%

        So I think GOLD price in AUD has limited downside

        Sorry confusing I’m talking different strategies time frame

        If you have 20k in the bank I’d buy 4 ounces for 10k and not even look at the price for 5 years

        Does that make sense

        GOLD AND USD ARE KINGS (AUD USD etc don’t seem to have a big correlation)

        Is that clear ?????

  2. DingwallMEMBER

    Fourth session of meagre gains

    Classic heading from Markets Live on the SMH website……Meagre? The pile of crap should not even be where it is……… instead they expect a rocketship fueled by…………….. nothing more than hot air.

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