Hi bobqyu,
got very excited & seem to be convinced that the only way for gold is to go up.
Gold has gone up for 10 years since 2002 that is unprecedented,to believe this will continue is a VERY OPTIMISTIC view!!
I've been in the market during the last big bull market in gold. (1979 to 81) Gold went from 240 to 850 Dollars within12 month.
Analysts where predicting prices of 2000 by 1985 or even 5000 Dollars by 1987.
We all know what really happened. Gold went into a tailspin for 20 years & bottomed at around 240 Dollars when all the "smart politicians" in charge of our finances sold OUR REAL assets (Gordon Brown UK, Peter Costello, Australia) to invest in US Dollar assets. :-(
Never the less Companies with low production cost, long mine life good exploration, lot's of cash in the kitty should be doing quite well even if the POG falls as low as $1300. Like NST OR RSG both got top management!
Let's hope that support at 1630 holds & bounces back from there.
Not too sure it will happen. US economy is showing signs of recovery which means interest rates have to increase US Dollar moves up & gold goes down.
pog, page-21
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$14.23 |
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Mkt cap ! $16.35B | |||
| Open | High | Low | Value | Volume |
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