News and Insights

There’s been a lot of press about gold lately. And a lot of interest in Rush Gold. Find out more including our market insights.

What’s going on with the price of gold in Australian dollars?

What’s going on with the price of gold in Australian dollars?

On 15 March the price of an ounce of gold in U. S. dollars was $1501.25, today (4 June) it is $1710.50, a change of around + 14%.

On 15 March the price of an ounce of gold in Australian dollars was $2451.20, today it is $2460.25, a change of just 3/10ths of 1 %.

The difference between the two is simply the difference in the value of the currencies that gold is quoted in.

On 15 March the Australian dollar was worth $0.57 U.S. cents, today it is worth $0.69 U.S. cents, a difference of +21% (you can see this move on the far right end of the currency chart below).

This move has been fairly sudden and has brought us closer to the trend line, so gold prices in AUD should be expected to move in closer lockstep with gold priced in other currencies going forward.

It’s worth noting that despite the large rally in the AUD, gold has very recently reached all-time highs in many currencies, including the Australian dollar. Many analysts expect that once the all-time U.S. dollar price of $1917 per ounce is reached then the next leg of the gold bull market will begin.

 

Bringing gold to the digital age – Interview on ausbiz

Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2

SendGold Update – Ramping up Services as Gold Demand Skyrockets

 

Download our new app now and BUY 100% title to GOLD in minutes

Related News

Keep calm and stay ahead of the game

Protecting your wealth – the 2022 view It’s hard to know where to turn, with equities in free fall, rollercoaster…

Read More

The impact of Russian sanctions on gold

Gold market update Gold rose to a one-month high on Monday, just shy of the $2,000 per ounce level, as…

Read More

Sanctions Usher In New Era for Gold

The U.S. administration has established a financial Maginot Line across the world economy. It looks like those who own gold…

Read More