GOLD 0.51% $1,391.7 gold futures

the aussie dollar gold price ..

  1. 24,765 Posts.
    The Aussie dollar gold price is not doing too badly at $1237.

    Recently I've contacted some Australian TV stations and newspapers asking them why they quote the price of gold to us in US dollars.

    I've told them they are not US TV stations and US newspapers giving the price of gold for their US readers in their own US currency.

    They are Australian TV stations and Australian newspapers so of course they should tell us the price of gold in our own currency.

    I added that if anyone here is going to buy physical gold or gold shares we don't pay for it with US dollars. The US dollar is not out currency. If I tried to make a purchase in a shop with US dollars it would be refused as the US dollar is not our legal currency.

    In Australia when we buy gold and gold shares we make payment in Australian dollars. I also added that ETP.ETFS Gold which has the ASX code GOLD.ASX is purchased in Australian dollars and rises and falls in price based on the Australian dollar price of gold.

    I suggested to the newspapers and TV stations that it makes much more sense for Australians to have the gold price reported in our currency.

    Maybe on Hot Copper in futuire we should just use the Australian dollar gold price and when posting about gold rising and falling be referring to the movements in gold in Australian dollars?
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