gold gurus, page-11

re: gold on fire, three-alarm caution indicated I think it’s a mistake to try and read gold using charts; It’s a good thing that Gold mining share purchasers –ie funds, have been taking it easy in the last 3 months. By the end of February the HUI was way ahead of bullion, and something had to happen. The bullion price had to rise. Taking into account the huge costs these days of gold extraction, it was impossible to see gold hang around under $600. The propulsion of the bullion price rather than an abberation, should be seen an upward correction following years of artificial repression. See it as an elastic catapult release rather than a mountain climb and you’ll start to get the picture. Corresponding dont be surprised if we see $800 gold this year.