Quite so Bruce - (in general, there are always exceptions)some Aust gold shares took off early but are trading below the highs of 3/4 yrs ago. LHG NCM go up/down with the gold price as any chart will confirm - both new all time highs at present.
Indeed buying the 'right' real estate, shorting the US$ will have given a greater return than gold in A$.
Sinclair of course talks from the US$ prospective in the main as do many market commentators, but then again 'we' all knew that. At least gold in the ground is gold in the bank & that is what will infuence gold shares very soon. ADU for example.