not a scientific analysis of mine but i think AUD is overvalued of late and so XAUAUD wants to go higher...
one would have various reasons for this, such as size of the economy, might of the government etc. similar to canada for that matter. but they sure move in the same direction. i think it could also be the mispricing of risk in favour of their respective authorities and their perceived ability to influence the course of events. this is all re XAUAUD.
on a lighter note, i see some hope for the forgotten army of mid-tier aus goldies, and Moy in particular. if it can hold 19c, a nice cup & handle might be forming. unless it breaks out even sooner. it seems to move in 6c increments from what i can see. last ann was seemingly positive and confirms mngt's intentions to promote the story, with everything that may come with it... best ))
MOY Price at posting:
20.5¢ Sentiment: None Disclosure: Held
