Tend to agree John Risk, however its always hard to look that...

Tend to agree John Risk, however its always hard to look that far ahead. But based on the current S&D dynamic I think about a 7 - 10% increase in the POG year on year for the next few years at least. In the short term I am looking for gold to challenge $1420 resistance later this year, as the physical demand season kicks in & we see some speculative positioning, drafting in the tail wind. I also think we will see Aussie gold outperform as the AUD slides against the USD over the next six months or so.