rbc ups price target from 3.50 to 4.50, page-32

chuk

Chuck away your TA for the gold price. It is being driven by political and macroeconomic events, so I do not think TA can show us the way forward.

You can bet your bottom dollar that if the Eurozone decides to print their way out of their mess (via ECB) then the POG will get to $2000 fairly soon. On the other hand if they do not print and they have massive bank failures that result in financial contagion around the globe then the POG will be closer to $1000USD.

A sort of in-between scenario is that Europe does not print but supports its banks to a significant extent and their economies deflate (as a group they are already in recession). To counterbalance this much of the rest of the world inflates (US, China, India, Japan, UK). This is where we are now and supports the current POG.

In essense by investing on goldies we are gambling that the stars will align in our favour.

loki(just another goldiebug gambler)