We should all be expecting significant ongoing volatility in the gold shares.
Extreme views both bullish and bearish gold, and very large positions being taken, gold shares could chop around for quite a while until we get out of the gold spot range of 1130 and 1356.
If gold did put in a bottom at 1130, the next swing down in the USD could see gold move up to 1800 quite strongly, and the gold shares will at least double/triple in value.
If we continue the intermediate term downtrend, gold will move to 1000 and below quite quickly, and gold shares may lose another 60-80%.
That's high stakes on either side, and plenty of money to be made for those that are right.
