Before the inception of money, gold has long been used as the comparison of the goods and the exchange rate for the needs of human beings. Its rust resistant, it is not easy to unravel, and the shapely certainly makes this one mine of material known as articles of special mine. Along with gold, silver and Platinum are known as the precious metals. Even though along with silver and Platinum, gold remains the preferred.
In the development of modern economies, central banks in many countries guarantee the exchange rate of its currency with gold. The meaning of this: as we know, along with that of modern money are no longer made of gold (boro-boro, lha money 500 Silver Cook made of gold?) instead of paper. Thus the actual intrinsic value (real value) could be said to be very cheap or virtually non-existent. Imagine for a few dozen years ago, when developing countries have recently become independent and the central bank was established. Issuing banknotes as exchange rates can open doubts society is it true the same valuable money with other stuff that does have a high intrinsic value. Well as how menjaminnya, the Government at that time generally dare to claim that paper money issued by them is guaranteed by the State-owned gold reserves. Meaning that when people feel not confident with money spent on central banks, they can just exchanging them back with gold. Of course the practical side is reduced compared to the trade through the banknotes, but in a way this is the world's first Community Trust paper money each State as a valid exchange rate.
Walking with time and the formation of modern civilization, the central bank gradually no longer guarantees the paper money which they spend with gold and made gold precisely as one commodity trade as well as other stuff out there. This is because public confidence has been much better against his Government. Mere information, Bank Indonesia has also ensured that their Rp kok eject with gold in the early independence of Indonesia.
Well, that's the history of gold. But whether thus gold is no longer valuable to modern world? Of course not. Although not used as legal payment instrument again, gold remains the gold. Its value is recognized in the world as well as the honesty that is recognized everywhere we go in this world. Its main uses are as jewelry. Some electronic component also requires the use of a little gold due to the nature of konduktansi and its power is much better compared to copper (Yes if not understand konduktansi does nothing, we will not use it in trading forex or gold).
In the days where the mining exchange traded commodities such as gold, currently also served as one of the main commodities traded along with other commodities such as petroleum, cotton, wheat, milk and many others. In Indonesia did not yet have commodity exchanges like this but the foreign community is already very familiar with in commodity futures.
Gold also traded at times other than being reserves or reserves and for some Government or big institutions. At the time of the exchange rate of U.s. dollars down, usually gold and oil is one of the objectives being pursued to replace products that Dollar's slump.
Thus, it can be said to be quite sexy gold this time. But what is the practical side? Thus, one of the largest gold producing countries in the world today is Australia. The Kangaroo country is indeed known as the country's exporters of mining goods. More than 50% of the products they export is commodities, including precious metals. See the statistics below:
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Australia's total exports for 2005-2007. Source: Department Of Trade In Australia.
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We can see that the goods together with the mines and fuel is Australia's main export. Then how much gold Australia export? Not great-very big kok, major exports for the year 2007 the non monetary gold Australia "just" amounted to 11.4 billion dollars Australia. Not great doesn't it? Hehehe.
For many traders, particularly those that trade long term, trade Dollar Australia meant to trade gold. A similar movement is made in gold prices and the exchange rate of the country influence each other. Let's look at the example riilnya below:
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| he price of gold and AUDUSD from 1984 until 2006. Source: goldprice.com.au |
We can see with that price AUDUSD is mrip gold price also compared against the American Dollar (XAUUSD). Visible when gold increased, in a few months to years ahead will have an impact on the exchange rate of AUD against USD. Logically it is indeed possible to export no impact moment of currency exchange rates. Gradually, however, will surely be affected.
Now look back on the pictures above especially since 2002 last. We recall that the year 2000 forward is the period where internet use is spreading and also affects the way investors trade forex. The Internet has made everything runs fast and very real time. This is also a direct effect on the gold price and terms of the exchange rate of the AUDUSD. That's why when we see along the year 2002 to 2006 from the figure above, and XAUUSD AUDUSD is very similar to its movement, unlike previous years when gold moves much earlier than CURRENT DAILY.
The second type of product movement day exchanges increasingly identical. Towards the end of 2008, the sameness look very similar. Look at the graph and AUDUSD XAUUSD last here:
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AUDUSD XAUUSD compared against. The weekly timeframe
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one of the biggest export Aussie is gold but now becomes a sort of common kemakluman among traders of the world that when the gold price goes up then the "supposed" exchange rate AUD also rose against the U.s. Dollar. And vice versa when it dropped against the Dollar then the AUD is also "should" go down against the Dollar. This becomes a psychological mindset that many in the head trader since the 2000s thus causing into a sort of "self prophecy" for traders. They believe when XAUUSD up then buy AUDUSD ride so that action also carried out simultaneously against AUDUSD and causes the AUD really terkerek up against the Dollar. Well, until here we hope you understand.
OK Let's conclude our lesson: AUDUSD has similar movement patterns XAUUSD (gold prices).
From the practical side we can do action Buy AUDUSD if we know the price of gold increased drastically and most likely will still continue to climb. Of course in practice is not absolutely so. You still have to customize it with the technical analysis that You have and also your own trading style. Otherwise why there are lessons technical analysis in Forex school we have this? OK see you in th
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