Not much to say about Gold ETF. It continues in a sideways trend. Today was down a little but not much.The direction of this stock is determined by two factors - the direction of the Ozzie Dollar and the price of Gold in US$.
If the Ozzie Dollar falls but the price of Gold in US$ rises - that produces a double whammy.
Currently, we're seeing a fall in the Ozzie Dollar (after recent rises) and falls in the US$ price of gold - basically cancelling each other out.
We'll continue to monitor the charts and look to a break out, one way or the other.
Cheers
Red
No comments:
Post a Comment