FG equities are out of fashion because 1) there are few dividends out there 2) there is little value in most as earnings are down hence no capital growth.
2 does not apply to gold as earnings are up esp as the POG rises more quickly than the $AUD appreciates. To some extent, when there is a major lurch down in the equities markets gold stocks also take a hit. However, you have only to look at the relative movements of gold sticks and the rest of the market during some of our past major downturns to see that gold stocks do very well under such circumstances.
