gold is up hit $1350 overnight, page-50

Some views from Bloomberg on whey gold has spiked.

http://www.bloomberg.com/news/2014-03-11/yen-holds-jump-as-nikkei-futures-fall-oil-extends-drop.html

Note the importance of problems in the Chinese financial system for the rise in the POG. This could be good in the short term for the POG, but bad in the mid to longer term for it. We need China (and India/Moslems) economy to keep growing and for them to have rising income levels so that they can buy more gold and make our marginal mines profitable as the POG rises due to higher demand.

If China is the reason rather than Crimea then the POG could head up to USD1400 as a momentum trade in the near term wit hedge fund support. The action tonight will be interesting - last night's push down to USD1339 failed badly with the POG rebounding before the close of trading on the NYSE, but the goldies once again gave up most of their gains (GDXJ/GDX) and did not suggest a rising POG.

loki