Ridge Runner said:
Winterwood said:
I believe reason for Minelab to price in US$ is to simplify selling across the world. Pretty hard to deal with for example African countries and ask them to pay in AU$, much simpler for all counties to pay in US$ being the main world currency. On the other side of the coin, if the Aussie $ had risen and not fallen against US$, then we would be paying less for the 7000 than in the US.
But...There is an upside
Gold per ounce in US: $1244
Gold per ounce in AU: $1592
Gold is worth more here than in the US, so the tonnes of gold the 7000 should be pulling from the ground will be worth more here than in the US. Let's hope it lives up to the hype...
But that doesn't work, Because minelab U.S.A. doesn't supply Australia's Detectors and what ever the gold market is doing does not relate to the Aussie Dollar only the Exchange Rate for Dollar per Dollar does.
Because the gold is sold to brokers in Australia and if they want to export that gold that is their loss No One is forcing them to sell it on to overseas buyers, That's up to them
There is no way should this be A burden for Aussie Detector/Prospector to endure As to using the Exchange Rate as an Excuse to Fleece The Australian Public when they are Buying An Australian Product. Because the Pound is worth $1.91 the last time I checked and if that was the standard then we would have to pay over $20,000 for the GPZ, Like I said the US Dollar has nothing to do with the cost of them in Australia, Unless Minelab are selling them all to the US and Australia is Having to buy them Back, which is 2 lots of freight One each way plus import Duty and why would they do that, It just doesn't make sense.
john
Hi Ridgerunner, fair enough.
The Pound like the Aussie dollar is not normally used as a base currency for international companies, while the US$ is. An item based on US dollars and bought or sold in Australia will be of greater value as the AUD/USD exchange rate falls.
Gold is based on USD. If bought or sold in Australia the price is converted to AUD based on the AUD/USD exchange rate. So, if the AUD/USD exchange rate falls then we are paid more for our gold compared to selling it in the US.
Presuming I am correct and minelab are setting the price of their products based on the USD and not on the local currency where it is being bought from, then like gold the price of their product would increase here in Australia as the AUD/USD exchange rate falls.
Anyway, I do get your point of view and don't entirely disagree. It would be nice for them to provide a 'local' discount when selling to Aussies who have supported them from early on.
Now, back to waiting for more info on the GPZ
Cheers