clive maund's latest ta on gold, page-6

"I see $1500 as the next big target, but even a break of $1200 may signal the next upswing in the gold stocks"

Youngtrader, so much depends on the real price of gold relative to commodities and producer cost inflation. $1500 means nothing if oil is $500.

For example, in the 1970's the gold price rose 25-times. Contrary to what most imagine, gold stocks as a group only rose 14-times because costs rose faster than the gold price.

Another example: Homestake Mining performed infinitely better in the deflationary 1930's compared with the inflationary 40's.

Rowingboat