Again the sheep on the asx are duped by a falling AMERICAN DOLLAR gold price, whereas the AUS$ gold price is still very stable at AUD$1370.
But I guess that's what makes a market, people get mixed up and conned by the media into thinking gold is really falling, but the facts show gold is actually up, that's where buying opportunities arise in markets, when you think the sheep have it all wrong and they sell, that's the time to buy up, when they figure it out, it will be too late to buy on the cheap.
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It would be interesting to see how our market would react if say the gold price fell to US$1,000
BUT the AUD$ fell to say US70c, which would make the gold price here AUD$1428, I wonder if the genius traders on the market in Australia would focus on the US$ gold price, and sell goldies, or would they actually use their brains and look up the AUD$ gold price and see that's its actually way up,a dn buy up aussie goldies.
makes you wonder.
PXG Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
