GOLD Question

Discussion in 'Commodities, Stocks, and Indices' started by ezrydn, Aug 5, 2013.

  1. radex78

    radex78 Active Trader

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    Might we can look aud to analyze gold also, australia is bigger mining gold in the world, sometime if making comparison if aud strengthened because gold also arise might we can making comparison gold and audusd chart often has similarities movement
     
  2. myfxpt

    myfxpt Master Trader

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    Does anyone here consider the Gold-Oil Ratio in determining medium to long-term direction? Historically (over the past 40 years) the correlation between Gold and Oil has been 0.835 fairly consistently, so where one goes the other tends to follow. The average Gold-Oil Ratio over the same historical period is 15.4 barrels of oil to 1 ounce of Gold. At present this ratio is 29.97. So, either Gold is significantly overvalued, or Oil is significantly undervalued. For the ratio to come back to average, either Oil needs to rise to $85.25 a barrel, or Gold needs to fall to $672 an ounce. Oil stockpiling continues, and the world economy, and hence, demand for Oil, remains shaky, so my bias is towards lower Gold prices into the foreseeable future.
     
  3. Ary Barroso

    Ary Barroso Active Trader

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    Last month was only for the buyers; and I see; now we in a range but till now I bullish here.
     

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