And running. The Lunatic RBA’s AUD thermal is still in play:
Yields dead:
XJO is flat:
Big Iron is soft:
Big Oil as well, barring the evil Santos:
Big Gold is running after solid results from NCM and EVN, not to mention the incipient gold bull market:
Big Banks have faded the DoleHider bounce as expected. Their future is bleak:
No different for Big Chunt though investors still don’t care:
They’ll have to learn the hard way.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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As a gold bull – knowing how heavily the market is manipulated – its good to see this breakout.
Just so you can all laugh, I sold silver for a small profit on Friday.
I bought back in, so it’s going to plunge now.
i love gold (and silveer) – I mean Im an ex Saffa. But HATE buying stuff when everyone else is and esp when MSM falling in love. But – AUD some days increase more than Gold up. What to do what to do. I expect there will be a pull back – more because of my gut and going against consensus than any technical etc anal. THoughts?
Buy on 5%+ pullback, or buy qau.asx either now or in pullback, which is currency hedged.
I’m all in but out at the end of the year – when it will be exchanged for productive real estate – ie farmland.
Thats the purpose of paper gold. Physical is a store of wealth and kept.
Using gold as a store of value and silver as a hedge for depreciation of AUD worked out as a fairly stable long-term strategy. But now as the metals are going up, so is the poo. Unfathomable, really, with all the great news out of Canberra, Melbourne and now Sydney, that AUD is up. But them are the breaks, I guess. So, myne, if AUD finds its downward trajectory again, you might be in for some more profits. Phase 2 is thus AUD down!
Cue South Park: https://www.youtube.com/watch?v=tO5sxLapAts
Qau.asx is currency hedged
I no longer see the AUD going down in the mid term. With the Fed and ECB manning the inkjets, and the RBA not really, how can it?
That’s the new carry trade. Relative speed of printer going BRRRRRRRR…
RBA’s is more of a pfft sound.
Hehe pfft is what rba is good at