Ann: December 2017 Quarterly Activities Report, page-28

PGO/ABU are not good comparison to the producers.



I am comparing XAUAUD against the bigger gold producers and you can see from a trend perspective, NCM is the least bullish. From the end of 2017 to current, XAUAUD made a lower peak and only NCM seems to be following suit. The rest went on to make higher peak. This to me is the smart money backing the serious producers.

I am contemplating to add should weakness continue in XAUAUD which I am of the view it will continue to sell off. This is a side effect of AUDUSD outperforming XAUUSD. Technically XAUUSD slammed through resistance then a pullback. Obviously I would prefer it to be breaking out then pullback into the new support.



Is that USD quote a double top before sliding back down to the Dec 17 low or a healthy pullback before bursting through the DT resistance and continue? IT would I guess depends upon where USDX is heading;



This chart was from last week and you can clearly see that weekly support is coming into rejection play. I am not into the predicting game and I have no idea where USDX is heading on this time frame.