The miners pay their costs in Australian dollars and the gold price that really counts is the one in Australian dollars. It's currently at $A966 which would enable most of our miners to make a profit surely. My view is that gold will go over $A1,000 in a couple of months and likely stay there. The Australian dollar may well move down slightly against the US dollar and not go to parity as everyone expects. In 2001, my last visit to the USA, the Aussie dollar was 2 for 1 US dollar. Imagine that now. Gold would be $A1,850. That would be a bonanza. Interesting that gold did not sink so far in NY yesterday. The lows seem to be getting higher!
