Not bad for a "Pet Rock".Nearly every time I looked at this thread
Gold Price - where is it heading?
I tell myself , UP , and smile
that is one of my few point of good economic news for the country.Will this be enough or another lost opportunity like gas has been?One of the consequences in the gold price surge is the boost to balance of trade.
Gold exports totalled 24.5Billion in 2022-2023 year and 34.3 billion in 2023 -2024 year.
Back in March, articles were touting huge increases this year with forecasts as high as %56billion and takes up position 5 on Australia's list of most valuable exports.
Given the increase in gold since then, it may well be higher.
Mick
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Indeed, at some stage, there will be a liquidity grab, and everyone will pile on and make the matter worse, maybe even a few fake moves to take people's holdings at a cheap rate and let people think there's lots of stability when the price comes back up. You'll see a heap of loss in gold miner stocks if the POG lowers, even on the ones that priced production around the 2500 USD/ oz. It's the nature of the beast; you snooze, you lose here.This is all lovely to watch, but it's going to be interesting to see what form an inevitable correction will take. Ideally we'd like to see a April to August type consolidation before pushing on. That could just be some profit taking and new positions being made. We could even get some quarterly results from the gold miners flowing in to see how the unhedged are printing cash. I'm not sure if that's factored into the gold stocks even after some terrific gains. It's hard to see what's going to cause a crash in the price of gold and silver though that would potentially shake a lot of nervous punters out causing a cascade of selling. It's hard to see what sort of negative shock (to the price) would initiate it.
Indeed, at some stage, there will be a liquidity grab, and everyone will pile on and make the matter worse, maybe even a few fake moves to take people's holdings at a cheap rate and let people think there's lots of stability when the price comes back up. You'll see a heap of loss in gold miner stocks if the POG lowers, even on the ones that priced production around the 2500 USD/ oz. It's the nature of the beast; you snooze, you lose here.
China is ruling the roost here at the moment in the gold markets, and there are lots of scenarios of how this could play out. The US and Europe could be pushing the price higher to limit China's buying. This is not a proven fact, but something that could be playing out behind the scenes.
The USD is the major currency to trade in, so there will be many still holding and worried about what would happen if it devalues.
Pretty sure at this current point in time, everyone is trying to protect their economies and currencies in case the US decides to devalue the USD and or flip, then start the money printing presses against their gold holdings. Every nation holding large stocks of gold is going to be ready and copy it. Gold is power; if you're holding a lot, you wouldn't want to devalue it or limit its losses.
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Yes, been similar the last 3 days for me.Strangely muted performance from the gold miners today? Barely in positive territory as a bunch.
I'm not suggesting it is not a valid. way at looking at gold holdings by country as the definitions can be confusing even for "holding"
I just wondered the source of the "Gold Reserves by Country" as I recently posted an image from the World Gold Council which varied from the figures posted.
I'm not suggesting it is not a valid. way at looking at gold holdings by country as the definitions can be confusing even for "holding". This is the image from a post 2-3 pages back.
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gg
It's a snapshot from the same site, might be monthly or weekly sales, click on it, and it goes to the same stats you have above?I just wondered the source of the "Gold Reserves by Country" as I recently posted an image from the World Gold Council which varied from the figures posted.
I'm not suggesting it is not a valid. way at looking at gold holdings by country as the definitions can be confusing even for "holding". This is the image from a post 2-3 pages back.
View attachment 210569
gg
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