"While I agree entirely that current conditions affecting the...

"While I agree entirely that current conditions affecting the $US are positive for Gold, the current Spot price (US$847)in $A terms is around $1,215, which is no different to when Gold was US$780 & $A at 0.64US, 2 weeks ago."

Miyagi son, I think that's a very good point. Everybody keeps talking about the US dollar diving being good for gold, but lets not forget most of the doom and gloom commentators are in the US and their audience in the main spends USD. Therefore if you are in the US then all these comments are appropriate. However, if you are in Australia and your living costs are denoted in AUD then the AUD is more important than the USD. Gold holders in Australia are only going to benefit if Gold's appreciation against the USD exceeds any appreciation of the AUD agianst the USD - bearing in mind the AUD has a fairly strong relationship to commodity prices given that we are a massive net exporter of commodities.