gold shares here on monday ...

Following a nice US$22 jump in the gold price to over US$1750 with an added sweetener the 172 points jump in the Dow I wonder how gold shares will do here Monday?

Put it like this.

If gold fell US$22 and the Dow also fell 172 points there would be no problems with gold shares being smashed 5% or so across the board.

Easy. Simple as that. No questions asked. No prisoners taken. Smash the lot!

So can we expect a 5% rise in gold shares here on Monday?

One look at the HUI's miserable rise on Friday night from 455.55 to 463, a rise of less than 2% puts an end to that.

Odds are it's just going to be a same old .. same old dull day and our sector leader NCM might manage to reach the dizzy heights around $26.00. (Who remembers more than 4 years ago when gold was US$1000, NCM's profits were much lower, NCM had hedging in place and the NCM share price was $40?)

It's worth noting that the HUI is still trading at levels it was at when gold was below US$1000 an ounce!