riddle me this martis and fellow bears , page-55

Denial,

Look what happened to the price of gold in Australian Dollars in March 2009. This is the Gold ETF, which tracks 1/10th ounce of gold in AUD.

Still think Gold automatically gets sold off in a depression?

The reason Gold fell in USD terms was the incredible flight to safety to the USD at that time. Gold was making new highs in other currencies, especially commodity currencies like AUD which were sold off heavily.

Just pointing out that you need to look at Gold prices in other currencies as well as the USD before you make sweeping generalisations.