Buying OGC at the moment would be trying to catch the falling knife, gold looks weaker by the day and several gold shares have fallen below the 200 day MA.
The XGD is not far off it, even NCM is on the edge.
On the ASX OGC looks to have a support/resistance level around $3.40, now below that.
I'm surprised that JB hasn't seized on the matter of Hu Jintao's observation that the USD domination was a "product of the past". I won't be putting my retirement funds anywhere near a country that is a one-party communist state, has massive problems with ethnic minorities, corruption, violence, pollution, human rights and overpopulation.
The Chinese economy is running red hot according to the news so the Skyscraper Index applies here.
I think I'll leave a certain amount of my funds in USD.