Ann: Trading Halt, page-168

The NVA fundamentals are very strong, 10,20,...50m oz over the coming years are very likely if not even certain. That way no concerns.

BUT: The sp depends on people buying and selling and if gold is out of favour then the fundamentals will be ignored regardless of how many oz are certified. That's why even NCM gets dropped when the gold price tanks even when most of their prices are hedged.

So, if the stimulus packages that were and will be announced world wide will lift up economies but fail to increase the inflation as happened after the GFC then stocks will be in favour and gold won't. If inflation gets out of control what we all hope for and should expect then gold will bounce back. The problem is that investors are unpredictable humans but if machines, programmed according to rationality, would do the investing then of course PoG would be already at US $ 3000+.

Today the markets reached a new high but analysts already predict it can't be sustained as the economies don't justify it. If so, the indexes will come down and then it depends on investors whether they shift back into gold or not. ST, NVA and many other goldies will see sp retraces, LT it should go up. But should doesn't mean it will.

GLTA