I believe there is only one reason possible for a decline in gold in the current environment ,(economic environment), and that is if the US (or more likely agents thereof) short it to protect the US$ and I think that would have to be limited .
Personally I have no fears of a A$ anywhere near parity or any significant weakening of the GP.
I do believe as the markets deteriorate around years end that the GP will surge and likely hit new highs next year .
Dave you own some WAF don't you ?
Your own predictions don't scare you ?
foreign exchange risk, page-32
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