Rand to be hit?

Does anyone else get the schnarkies that the Rand is about to take an almighty klap??

I've been watching the action in the US and locally and suddenly in the last few minutes Gold has rocketed some 50 odd dollars and the gold shares are on a mission.

Harmony, Gold Fields and AngloGold Ashanti are up in excess of 10% and gold doesn't look like its planning to stop.

In between this the Rand has slipped to R8.22 to the US dollar...

This is great for my Impala shares and for my dollar earnings but will play absolute havoc with the local South African economy (Inflation and debt issues will continue to rise).

I just get the horrible feeling we're about to see a huge selloff of emerging market currencies as people pull their money back into their home balance sheets.

I think I will just keep patting my IMP on the head for the moment... Time for these things to fly....