Australian dollar gold hits all-time high

See the latest Australian dollar analysis here:

Macro Afternoon

Australian dollar gold is at all-time highs this morning:

Australian gold equities are matching the bull market:

But note that equities usually very much overshoot the underlying metal before the bull market is done.

Given I see gold going to $3000 at least this cycle, the prospects for the miners are excellent.

That said, do not kid yourself. Gold is very volatile and there will be big corrections. The market is quite stretched now.

I am talking about a bull market that may take three years to unfold as the virus recovery gets fully underway and the USD plumbs new depths.

David Llewellyn-Smith
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