A week ago, we updated you on what the world is doing with gold, and reported predictions of gold reaching $US500/oz by Christmas. In fact, it's happened much sooner.

Over the past few months, DIRECTINVESTING has been keeping you abreast of changing economic data relevant to Australian investors. Our theme is that, despite the doom and gloom coming from the tabloid media, there is actually huge growth occurring offshore, especially in Asia and the emerging markets that produce commodities. These countries have been buying US bonds, and for those that are over exposed to bonds, gold has also been used as a store of wealth....