• 341 days Will The ECB Continue To Hike Rates?
  • 341 days Forbes: Aramco Remains Largest Company In The Middle East
  • 343 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 743 days Could Crypto Overtake Traditional Investment?
  • 748 days Americans Still Quitting Jobs At Record Pace
  • 750 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 753 days Is The Dollar Too Strong?
  • 753 days Big Tech Disappoints Investors on Earnings Calls
  • 754 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 756 days China Is Quietly Trying To Distance Itself From Russia
  • 756 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 760 days Crypto Investors Won Big In 2021
  • 760 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 761 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 763 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 764 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 767 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 768 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 768 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 770 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Market Update: Gold In AUD$

Has gold put in a low?

One market that I like to track for gold priced in US$ is that of gold priced in AUD$, as you can see its virtually hit the 1x1 objective and the reversal is very strong so far, the interesting thing that I want to point to is the more clearer Elliott Wave pattern that is seen on XAU/AUD.

Gold in AUD$
Larger Image

Not only has it virtually hit my target for the current down trend, we also have seen a strong move of that low and one that suggests an important low has been put in place.

Larger Image

Having seen a 5 wave advance (cleaner on XAU/AUD than XAU) I suspect a correction at least to correct the recent advance, thereby potentially setting up a buying opportunity as long as any decline is corrective.

As you can also see both markets track each other well, suffice to say that there is a very strong possibility that Gold priced in AUD$ has put in a low, and as such needs to be respected.

Larger Image

Until next time.

Have a profitable week ahead.


Back to homepage

Leave a comment

Leave a comment