John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Joan Osland Graffius who wrote (5574)	2/12/2002 12:59:38 PM
From: Moominoid	Read Replies (1) of 33421

I know, I can't easily open a foreign currency account as a private customer with a regular bank. Businesses can. I'd probably have to go to a private client broker and have a big account to get a foreign currency account myself. Anyway I have a bank account in Boston and an account with Datek... the only time I investigated this was during the Asian crisis when I was thinking of buying Baht.... My point was that the Aussie just tracks the price of gold plus minus a fe other factors. So there would have been no advantage for Australians to own gold. Now if a really huge spike in the price of gold is coming, then I believe that upwards of say $US400 the Aussie and gold would decouple unless there is worldwide inflation simultaneously so that the Aussie doens't get too strong relative to other currencies. Then it would make sense for Australians to won gold. David

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