Gold hits fresh record high in AUD terms, up 9% on MTD basis

• Gold hits record high in AUD terms. 
• XAU/AUD is up for the 10th straight day. 

Gold’s surge in the AUD terms continues with prices now reporting a 9.3% rise on a month-to-date (MTD) basis. 

The yellow metal is currently trading at a new record high of A$ 2,0060 per Oz, representing 0.92% gains on the day. 

Notably, prices are trading in the green for the tenth consecutive session. The widely followed relative strength index is now reporting extreme overbought conditions with an above-90 print. 

The price, however, is showing little signs of exhaustion amid dovish Reserve Bank of Australia expectations, fears of a global growth slowdown and rising geopolitical tensions. 

While gold in AUD terms is trading at record highs, the yellow metal is still down 25 percent from record highs in the US Dollar terms.