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PMGOLD - Perth Mint Gold ETF

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Just a quick update on PMGOLD the Perth Mint listed gold product which had an ath just closing on April 22nd 2c shy of $54.

It gapped up this morning and its next target is $52. To get the price of gold in $AUD just multiply its price by 100.

It has had quite a nice run in July with plenty of green. A chart.

gg

 

It's been consolidating nicely, as with USDPOG. Hopefully it doesn't go as drawn out as 2021-22. But, happy the trend has seemed to clearly be consolidation, jump, consolidation, jump. Still in a gold bull market.

It's run a fair way from the 50dma and 200dma though. Would like that to be a bit tighter. Or, maybe that's why we're calling it a bull market.

 
We haven't seen positive volume like today for nearly 3 months and the price of gold is rising nicely with conviction and momentum. PMGOLD is just $1.30 below it's all time high so I am quietly confident that this will be breached this month.

The only matter at this stage that may cause a reversal in gold would be a head injury to Mr. Trump sufficient to cause a beneficial change in personality without affecting his already diminished decision making.

Onwards and upwards imo.



gg
 
Casper18 said:
I'm happy to see PMGOLD powering on, especially today. Its been the star of my portfolio.
Click to expand...

Yes, very nice.

Slightly different chart to USDPOG obviously due to the AUD/USD thing but I would have expected this to be going through ATHs with the breakout. But, not quite yet after that jizzim in April that was a bit strange. Needs a $54.00 close to beat it. Still, looks to have broken through that blue line for now.

 
PMGOLD is a good way for Australians to get gold exposure.

Uncomplicated apart from it's exposure to the aud/usd exchange rate, and over the long term it can be swings and roundabouts with that depending on when and if one is a buyer or seller.

gg
 
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