"What is of more interest to me is what gold will do in Australian dollar terms."
In my opinion a serious misconception by many investors here. Gold is traded is USD not AUD.
The AUD price of gold is of secondary importance to the USD price of gold.
For example, if the USD price of gold fell to $650 and the AUD price of gold stayed the same gold shares here would be smashed. But if the USD price of gold rose to $950 and the AUD price of gold stayed the same leading Aussie gold stocks such as LGL and NCM would strongly rise.
