Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Saturday, December 3, 2011

Aussie. USD. Gold.

Aud/Myr spiked on Wednesday touching 3.26 but has since dropped to close 3.196 as the week ends with a weekly gain of 2 % ... Gold Xau/Aud closed lower as it requires less of the stronger Aussie to buy gold.

Aud/Usd closed higher 1.021 with a weekly gain of almost 4 %
while Gold Xau/Usd also traded higher at 1746 with 2 % gain
implying Aud/Usd is a better trade of the two.

Usd/Myr tumbles down about 2 %
while Xau/Myr spike in mid-week but closed with little change at weekend. You would have gain little to trade gold in MYR.
The best way to trade currencies now: change MYR->AUD then pair against USD or EUR (although I trade EUR/USD) as AUD is a better base currency than EUR or USD.

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