If Italy falls all the stocks will fall too. Fundamentals...

If Italy falls all the stocks will fall too. Fundamentals ignored in the short term.

AUD will likely drop which will cause gold to go up (in AUD) but gold will probably fall is USD as the big money flies into treasuries. So oposing forces at play - hard to predict what will happen.

That's my take on the short term volatility caused by Italy (which surely has to fall IMHO). I've liquidated gold shares today and plan to buy back after the crunch.

Happy to buy the dips and sell the highs on gold ETFs. I'm confident of PM Gold re: redemptions (ie not worthless paper).