I suspect a lot of the recent 'bullishness' in AUS gold is perhaps due to the fact the USD is 'weakening' more slowly than the AUD/USD currency-pairing...
AUD/USD ~$0.755 27 Apr, AUD/USD ~$0.803 on 1 Feb 18... Ergo -6%, give or take...
XAU/USD ~$1.316 26 Apr, XAU/USD ~$1.348 on 1 Feb... Roughly -2.5% variance...
Although SLR appears to have a 'reasonable' share of the 'smart money' flowing into it again...
Quietly confident they may end up 're-balanced' into the ASX300 in the next quarterly shift...
Go SLR, go for GOLD..!!
ML
Ann: Quarterly Activities Report, page-21
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