Gold.ax (a proxy for Gold in Australian dollars) has finally broken out of its several year consolidation phase (3 years!!). Another record in another fiat currency.
From this point onwards till next year, expect Gold to rally strongly. This period is traditionally gold's strongest. My target is still around the 1870 level. That represents another 200+ rise.
To the "smart crowd" who chose the "strong"Australian dollar, you've just lost even more of your purchasing power. Amazing how people only chose to buy gold now when it's risen so much when they could've gotten it much cheaper even just earlier this year.
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