Lets just day that very few commentators back in say ,2001, were predicting gold prices up around these levels. And very few would have any real idea about where the gold price is going.
If you're going to follow anyone's advice regarding gold , follow those that have called it consistently correct like Jim Sinclair ( jsmineset.com ) or Peter Schiff or Alf Feilds....
Even if the POG does level off after 2015 , and start a new bear market , will it be dropping from $2000/oz , $2500/oz , $3000/oz or $1800/oz ???? And where would the new floor price be ? $1200 ? 1500 ? 1600? back to 800 ?
Will a new gold standard be in effect that assures much higher prices ?? (pigs may yet still fly imo !)
In my mind , gold's bull market may just be getting into full gear around 2015....now that Obama's in office till then . Its game on till 2016. Who knows what the gold price will be at that point (much higher than now is my bet)
The first gold may be poured at Batie West in 2015 with prices well over $2000/oz (and perhaps not by AMX). Today's EV/RES of ~$20/oz will look rather foolish (and a missed opportunity for some in hindsight.)
AMX Price at posting:
38.0¢ Sentiment: LT Buy Disclosure: Held
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