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Hi velvetz,
In response to your query about going international, the major forex risk is NOT going international. The A$ has been a historically weak currency, except for limited periods of strength when commodity prices go for a run. By going overseas, you'd have added an average 3-6% p.a. to your total returns by being the US$ (ignoring the yen or euro). Of course, if demiller1 is right about the price of gold appreciating, then now may be one of those rare occasions when diversifying abroad will not immediately benefit you in the short-term.
While I'd agree with the comment on developed markets rather than emerging mkts, you might want to look at a global fund rather than individual markets. The US is highly valued at present, to say the least, and a geographically diversified portfolio makes sense anyway.
Hope this helps
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