gold price soaring ..., page-2

SP people are so obsessed with the price of gold in US dollars but it is largely irrelevant to us today. Right now it's around $A1260 which is near its all-time high and it's at or near its all-time high in a number of currencies. So what if it rises in American dollars as it inevitably will as more and more dollars flood the market. Myopic investors may well look no further than the US market when valuing Australian gold companies, but eventually when Australian gold companies report their profits with gold at around $A1,250 average some of these investors might just realise that valuing Australian companies based on American values is just plain foolish. In the meantime those of us who follow gold in Australian dollars will make hay while the sun shines and continue to buy up grossly undervalued assets.