elm7, what is really interesting is that December contract presuming the information is correct. The assumption is the Australian dollar will be 80c by then. They are punting on the US dollar declining. Those figures seem very realistic to me and may well be conservative. Indeed the bank is betting they are conservative - they aren't in this to lose money. I would bet the price of gold will be more like $A1,300-$1,400 plus by then and the US price $US1,100 plus. If we could be sure we would all be multi-millionaires by Christmas.
