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Is it possible to trade NewGold?

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Not applicable
Is it possible to trade NewGold? Seems overly complicated for my little brain. If gold goes up but the rand goes up I lose. If gold goes down and the rand goes down I could win...sheesh...is there anyway to trade gold in dollars?
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3 REPLIES 3
SimonPB
Valued Contributor
in short no, and that's because you earn in rands and spend in rands so even if you bought US$ and then traded gold in US$ the net effect would be the same. The only people really able to purely trade gold in US$ are yanks who earn/spend US$.
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Not applicable
Mmmmhh I see the point. I was thinking more a long the lines of only having to take 1 variable into account i.e. which way the gold price was moving and not 2 i.e. which way is the R/$ moving and which way is the gold price moving...but I guess relative movement is all perception. Does this mean as South Africans gold is not a good investment? If the gold price goes up then the rand strengthens and our relative gold price remains flat....guess I will have to go to the charts.
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SimonPB
Valued Contributor
well rand/gold is at or around all time highs. Just that the move has not been as exciting as US$Gold due to the rand strength.
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