Cha, my only concern with gold is that it trades in a multi year...

Cha, my only concern with gold is that it trades in a multi year sideways base. Gold started a new 8yr cycle with the low at the end of 2015. Since then it's acted differently to the bull run that started in the last cycle from the 2008 low.

If you go back on the gold chart and look at the 1980 bull top and subsequent collapse into the cycle low around 1984 (don't have my charts so I cant confirm the low date but it's obvious) the first rally out of the 8yr cycle low set the range for the rest of the cycle and price just based sideways within that range for the next 8 years. It's in the back of my mind that the 2016 rally out of the last cycle low may frame price in a similar way. Gold needs to get above the 2016 high to negate this. Although I do remember ready that producers did quite well during the mid to late 1980's cycle because gold price was relatively steady and they knew their costs and profits as a result. I'd say specs would also do ok proving up new discoveries.

Just some thoughts.