Dillinja,
You're still plugging for gold shares and the XGD's been declining for 2 years, you're a tiger for punishment all right.
There's an article in the latest Economist on gold, here's an excerpt:
"But if paper money is being debased, the evidence has yet to show up in any consumer prices. Nor has there been any sign of the kind of rise in inflationaty expectations - either in consumer surveys or in bond-market movements - that would justify the doubling of the gold price since the collapse of Lehman Brothers."
It also points out that 2900 tonnes of gold is being mined this year, up from 2400 tonnes in 2008. This is caused by the profit-cost gap and contributed to the 1981 crash and stagnation of gold for the following 20 years.
I see John Paulson has bought into a real estate company and a homebuilder, so he's obviously expecting a recovery in the housing market - in today's paper the homebuilder sentiment index is the highest since June 2006.
Cheers
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