why abu, page-13

U812, not much point running valuations using $4,000 gold with gold where it is now, partly because the market does not expect it is going to happen but also because we don't know what costs will be like.
Needless to say, most gold stocks would probably rise by factors of 10 or more from current depressed levels. Some might do much better.

However I haven't been looking for $4,000 or $8,000. They are not my targets. I was just pointing out that if we had a parralel to the 1970-80 moves, then $8,000 is achievable.
That does not mean I expect it- at least not any time soon.
My target for now is around $2,500 based on golds correlation to the monetary base and the increases in the monetary base over the last 30 years.