POG and AUD rise

POG is USD$1563 per oz this AM and AUD has risen to USD$1.096. That is, the price of gold has risen higher than the rise of AUD against the USD yesterday.

While in the past fortnight when I cannot connect to my blogspot in China (probably censored), the POG has risen slower than the AUD. Good for expenses in China but bad for the ASX.

All currencies tied to the USD are actually benefiting for trading purposes. This includes the MYR and RMB. It is awful for Australia which trades its major commodities in USD. This explains why the resource sector has been badly hit. So, my wife might as well spend while we were in China and Malaysia!