us$1000 gold ... this time it's different, page-11

Surely buying gold ETF is more of a currency play than anything else. While there is a carry trade into Australian dollars - there is no way you're gonna make good money on the gold etf.

I'm hoping for another round of risk aversion - at which point I'm going to go long heavily in the aussie gold etf...

Things to look for... systemic downturn in commodities and/or a couple of major us hedge funds going bust.