Jant....interesting logic but I don't subscribe to it. Last I...

Jant....interesting logic but I don't subscribe to it. Last I heard, gold was traded in USD by producers and therefore it's how many USD's they hold; not AUD's! I mean, really, it's not Aussie investors that are going to push LHG up. It's our hedge fund friends that can buy LHG in NY with depository receipts and the like and USD denominated derivatives. The arbitrageurs in Oz will then come along and mimic the big boys for the crumbs with their own AUD's. If the market perception is that USD denominated gold is going up, then gold in Oz is going up and LHG is going up. If the exchange risk is too great for foreign investors then buy LHG in your own currency!