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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (1784)	5/11/2001 7:58:38 PM
From: Moominoid	Read Replies (1) \| Respond to of 12410

Chip I recently had a look at some charts of $A Yen and gold. I think the latter two would explain the movements in the AUD pretty well. It seems irrational to me that gold could play such a strong role. Gold is only about 5% of Australian exports. The percentage change in the gold price from peak to trough is almost exactly the same as the change in AUD. The two didn't always track each other so well, that's where you need the Yen to explain some movements like the rise out of the 1998 bottom when gold was still falling. I'm wondering how high gold can rise. Won't the central banks start selling again once the price gets high enough? David