Australian Gold Price Charts
Compared With USD Charts
Gold Prices Compared:
Ever since the world financial system embodied a US dollar standard, a medium of exchange whereby merely one nation has the benefit of borrowing and repaying debt in its own currency, the central banks and bullion banks (basically large international banks) have been trying to suppress the price of gold downwards in an attempt to influence the ‘durability’ of the US dollar monetary system the world has functioned under since 1971. This conspiracy theory has been convincingly contended for a long time by the Gold Anti-Trust Action Committee (GATA) in the US. In order for a fiat paper currency scheme to flourish, the genuine international currency, gold, needs to be dishonored, so gold has been artificially kept down for a long time in order to permit the US dollar based international fiscal arrangement to survive. But the official grasp on the gold price is starting to weaken, possibly this time for ever.
Substantial demand and weak supply should be producing much higher prices. One reason as to why this isn’t occurring relates to the short term affect of hedge funds trading gold to satisfy investor redemptions. However, this is not the major reason, as hedge funds are more likely to deal in gold futures rather than physical gold. Even though the monetary value of gold in US dollars has been under pressure, the principle gold producers have little inducement to step-up production at the present price levels. Even in Australian dollars, the price of gold isn’t high enough to promote increased output.
More ominously, it would seem that central banks and bullion banks are attempting to control the marketplace and prevent the gold price from climbing. In summary, the contention is that central banks lend or lease gold to the bullion banks, who then trade the gold on the spot market and invest the return income in higher returning Treasury Department securities, thereby gaining a positive spread and easy money. In this way, central bank gold holdings are monetised and the proceeds are reinvested back into United States government debt. More significantly, the extra supply of gold arriving onto the marketplace from the vaults of the central banks helps hold the price down.
AUD $ per oz. Spot Gold Chart
USD per oz. Comparison Chart
AUD $ per oz. 24 Hour Gold Chart
USD per oz. Comparison Chart
AUD $ per Kilogram Spot Gold Chart
USD per Kilogram Comparison Chart
AUD $ per Kilogram 24 Hour Gold Chart
USD per Kilogram Comparison Chart
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