i'm back in the green with gold, page-7

"POG up to $980oz"

- we mustn't get too excited about a high US DOLLAR gold price, we should always look at the A$ POG as most of the costs (and profits?) are in Australian Dollars.

if you go to

http://www.kitco.com/gold_currency/charts.htm?INX

Then click on the Ozzie flag on the left and then on the 6-Month tab on the top, you will see a totally different story..... ...since March, the POG in A$ (blue) is almost going in the opposite direction to the POG in US$ (red)

This is not all bad news as the more the US$ devalues, the more desperate the holders of US$(Chinese?) will want to buy gold.

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One thing's for sure - any rise in the HEG SP is definitely in A$ which is cause for celebration all round !!