gold price just went ballistic, page-14

Pity about the AUD POG, its still only around $1140.90 ounce because the AUD/USD went up around 1 cent to 0.8359 (a 1.25% increase). In fact in AUD terms gold has fallen by around $260 (18.8%) from its recent high of $AUD1400/ounce, a very significant fall.

This could be the take down of the USD finally happening, so if gold goes up the AUD POG does nothing much from here (may even fall).

The only good thing is that some imported inputs used by our miners (eg oil) may cost less in AUD.

I wonder how much the govt. bank gurantee is having on hot money coming to Australia seeking protection - perhaps its not an issue now, but I believe it was earlier.

Go Gold, but not AUD, please.

loki