All time gold price high saves ASX

The AUD is bid this morning as DXY sinks:

Bonds remain pancaked:

Stocks are up a little:

Big Iron is struggling:

Big Gas is down:

Big Gold is marching as the metal hit an all-time high this morning. Macquarie’s stupid Friday downgrade now forgotten:

Big Banks are sinking again:

MB Fund has been buying gold equities on the dips for much of the year. I see it going much higher. Though be warned. It is volatile.

David Llewellyn-Smith
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Comments

    • Negative rates – gold positive
      Declining faith in the monetary / banking system – gold positive
      Inflation – silver (and commodity complex) positive

  1. Something worthy of note:
    Monday, two weeks in a row 0400 GMT/1300 AEST Silver has spiked ~ a dollar.

    That’s Mumbai open.
    Seems like they’re driving some of the gains.

  2. is the MB fund looking at any explorers? or are you restricted to producers? Or is it simply governed by the min mkt cap you can buy into ?

  3. Fascinating that the general comments here for years are hell bent on Australian property prices being a speculative bubble and the same time advocate buying gold at higher and higher prices. Gold is the ultimate speculative vehicle. But, I guess it’s shiny.

    • Can't Socially Distance

      I’ve been bullish on silver since late March and started buying back then. I thought it had more upside than gold is all.

      Gold has made an idiot of many people though.

    • BigDuke6MEMBER

      No, no, no
      Gold is not the USV
      It is a store of value, nothing more nothing less. I could go on
      While all around devalues gold is keeping your wealth the same

      • Ivanka LottMEMBER

        Gold is an insurance policy against money printing and negative interest rates – the price of gold will drop (but not to zero) if central banks manage to rescue the economy, rates normalise and we return to 2-3% annual growth rate.

        • Lol. I actually laughed at the notion of this:
          If central banks manage to rescue the economy, rates normalise and we return to 2-3% annual growth rate.

          I think that is a good reason for the bid up on gold. People sont actually believe that.