“Gold! Gold for Australia! Gold!” as the famed sporting commentator Norman May said during the 1980 Moscow Olympics.
Spot gold is up 11 per cent from June 27 when it hit $US1200.65 an ounce. Yesterday bullion jumped 3.1 per cent, according to Bloomberg data. At 0854 AEST spot gold was at $US1337.87, up $US2 or 0.2 percent from $US1335.88 yesterday.