AuCu, I am typically a gold fan as well, but am currently betting on the USD straight up:
- In last month for example, ASX:USD has outperformed ASX:GOLD - when holding ASX:GOLD over past say 3 months (since debt ceiling crisis) I was finding majority of the gains were via simple appreciation of USD - It's worth noting in the heart of the GFC, Gold price didn't perform terribly well, down ~30% in USD terms. This wasn't felt fully in AUD terms as AUD was falling like a stone at the same point. But if this is a good example of how the world reacts in full on crisis/near credit freeze scenario, then ASX:USD should perform better - Gold has appeared to have lost some of its safe haven appeal. It has been falling during some of the euro-crisis darkest days
However, if Israel airstrikes Iran, as seems to be growing in likelihood, I want to be all over Gold!
