Gold in INR (Indian Rupee)……before long national obsession is going to be back. The amount of interest Indians have in GOLD today can be gauged from the AUM of GOLD ETF and DSP gold mining fund… which is at multi year low. Interestingly, the interest rate cuts by Indian central bank will make financial asset unattractive, and its a matter of time GOLD rush will be back.
Q2 hedge fund letters, conference, scoops etc
Chart courtesy @Northst18363337
Gold in Aussie Dollars ( AUD)… this is one messed up economy and not long ago was known as luckiest economy in the world because it went without recession for 35 years…. GOLD price is saying “The good times are over”
Gold price in Japanese YEN……Just on the verge of a breakout…..maybe BOJ need to buy more Japanese Govt bonds
Gold in Chinese yuan…….The trust is renminbi is slowly getting eroded…as Chinese growth falters
Gold in Euro….. it seems Draghi is leaving at the right time. we need one more ” whatever it takes” from Christine Lagarde…new ECB chief who believes in efficacy of negative interest rates. Savers be dammed.
Finally Gold in US Dollar….. still a long way from all time highs but breaking out of a downward sloping channel even though unemployment is 3.6% and inflation is contained which is interesting.
Article by Ritesh Jain, World Out Of Whack
