SYDNEY (Commodity Online): Even as gold miners across the globe were thrilled about the soaring gold prices, the Australian mining industry is not at all happy with the present situation.

Because, the strong Australian dollar has taken away all the benefits they gained during the rise in yellow metal prices.

Even though the price of gold has gone up by 10 per cent since early July to about $1000 per ounce, gold producers in commodity-linked currencies like Australia and Canada have not seen any benefits.

The gold price for producers in Australian dollars and Canadian dollars has gone nowhere in the last three months.

The Australian dollar has rebounded more than 40 per cent against the US dollar, since falling to 61 US cents in October 2008.

Gold share indicies were currently 30 to 40 per cent above September 2008 levels but were unlikely to appreciate much further this year.

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