The Gold ETF had a big drop yesterday. In the past 30 Days the Gold ETF is down -4.9%.According to the Kitco site, Gold in Australian Dollars is down -2.87% over the same period of time. That's a big discrepancy.
Since the Gold ETF supposedly tracks the price of Gold in Australian Dollars, it looks like the Gold ETF got a bit ahead of itself yesterday with that big fall.
The GoldETF:XAO Ratio Chart (shown yesterday morning) broke down below last gasp support by the end of trade yesterday. Given the discrepancy in the prices for the GOLD ETF and Gold in Ozzie Dollars, I'm ignoring that break until it is confirmed by another day's trading.
Good luck
And Happy Oz Day
Red
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