Some action, page-19

I'll agree with you Wack if it goes back up from here!

I topped up because I like the POG around this level and ORR has corrected strongly now on the POG. 1215 has seen strong support this year on corrections whenever there was plenty of interest rate talk. I think much of the selling in gold post election was traders switching from gold to stocks and the momentum fed on itself for some big moves up for stocks and down for gold. If I'm right, then much of that selling might be done and this support holds again. Then maybe the market starts to factor the inflationary implications of what Trump what's to do with his capital spending rather than just short term focusing on the interest rate consequences in isolation. Long term this should be positive for gold. I think there is more upside risk to inflation than there is to rates - simply because there is way too much debt still for rates to be able to go up in line with inflation - and that should be very positive for gold long term.

This piece from ***** news sums up my view so saves me typing up an essay to share my thoughts.

http://www.*****.com/news/2016-11-14/3-Charts-All-Gold-Investors-Should-Look-At-Now.html

ORR looks better now from a long term perspective and gold looks like it has again factored in interset rates. I'm not worried about what either does in the next few days or weeks so not worried about trying to pick an exact bottom today but I do think we might be close enough to an end to this correction and I see very good value in ORR.