The golden goose

Talk is of real money buying gold having bought Aussie ytdy and today. The reason for the gold purchase could be anything from uncertainty about the situation in Iran, BOJ liquidity add, Greece receiving/not receiving as second tranche, or FOMC on verge of another QE anticipating a fiscal drag. Plenty of reasons to shun the Big 3 at the moment. Techs played in Aussie’s favor well ahead of gold move as EUR/AUD slipped under 1.2200 on its way toward 2012 low of 1.2127. CRB +0.41% with oil back up at 101.30. AUD/JPY margin longs cut positions with 83.90 being key support on downside. AUD/USD is mixed but solid real money interest and ongoing sovereign interest could be a boon for longs particularly if commodity momentum picks up today. FOMC minutes are due later as is Australian employment 00:30GMT (exp 15K.

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