** gold $450 ** why no excitement **, page-9

There was a lot of US inflation in 1980. Gold needs that.

Although real inflation is rising it will take some time to get up a head of steam. But it will come IMHO.

So, at the moment we are relying on the dollar going down although that could be slowing down as well.

It seems to me because of the lag time and accumulation, once gold really moves, there may not be that much left to sell.

Opec is having a meeting on oil and one can never exclude Bin Laden.

Gerry
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