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

Inflation’s triple threat (and what you can do about it)

It’s been a few decades since we’ve experienced significant and prolonged high rates of inflation. Many investors today have not…

Read More

Insights: The geostrategic considerations of gold investment

Gold market update Gold prices edged up on Monday, recouping some losses after a sell-off in the previous session as…

Read More

Boost your savings with gold

Whether to protect against a market downturn or to keep up with inflation, it’s proving popular to keep savings in…

Read More