For some reason, investors like a high gold price in US not AUD dollars. If gold goes to $1000 US and AUD reaches parity with US dollar making AUD gold $1000, people will still flock to the gold stocks. Conversely if the AUD tanks to .50 and US gold goes to $750, people will still sell out of the gold stocks. USD price of gold is key, It's the most widely used measure of valuing GOLD in the world, investors have generally ignored the price of gold in other currencies when making investments in gold for better or worse.
