agree its in an accumulation zone, very hard to say where it will go by the time production starts, if the DXY is in uptrend we might hit a PE of 6 to 10x.. if the USD is falling then both gold and the PE multiple will be much higher.. so on the low end id say $1.50 to 2.. who knows on the high end, very variable; maybe $5 - $10 with gold 1k higher and a PE of 15x or more.. and that wouldnt even be bubble territory.
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