Rowingboat
Thanks for providing useful insight again.
That chart is very interesting and a good future reference source.
My expectation is that we will again get a significant rally in goldies in the second half of 2011. However goldies along with all other equities may sell off a lot again like they did from April/May 2010.
There will be constant concerns about when the next major correction is likely to occur in the US market and the reasons for this happening (not enough QE, inflation, profit margin contraction, the "fuel tax" on consumers, slow employment growth).
In the short term I do not see any major new factors to drive the POG higher, but I also do not think there is any reason at present for the gold price to collapse or fall back a lot.
It seems to me that for at least a while goldies will not provide the sort of gains we enjoyed over the last 2 years. It will be more of a grind, with the non-performers being trashed (it is already happening to some of them). Those speculators with the ability to trade the trends should still do well while the rest will suffer if they keep holding their non-performers in the hope of them becoming turnaround stories. Unfortunately I have a bad habit of holding some of them.
loki
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