Gold-where to now?, page-8

Hi rabs.

Falls in the dow over the last few weeks probably said it all re xerox,worldcom.Hard to keep this kind of info in the boardroom id say and market factored it in,hence the bounce the other day.

POG-Id be very surprised if we saw a reversal of the current upward trend.Short term charts say maybe.However take a look at the 10 year chart.Its well and truly ensconsed in its northerly direction.Any attempt to keep it down will just be met with support as happened late in US trade friday.Reduction in hedging and the continuing consolidation pretty much says it all.Theres definitely a perception that theres not enough of the yellow stuff to go around,particularly if its the industry itself that holds that perception.Doesnt matter what the analysts say.If these companies are looking to expand their reserves it only says one thing about the POG and where its going.10 year chart says it too.

Just my thoughts.

Cheers domum.