Michael,
IMHO, this gold rally is behaving differently than others in the past year or so. This is a significant clue, another one being that gold has gone up in the face of a benign CPI [sic]. Finally, the sentiment of most goldbuggers is not exactly rampantly bullish when it pulled back the previous rally.
Therefore, I think we have a chance at breaching 300.
Currently, I do not have a target, going with flow till I do have one.
BTW, If there is a possible currency crisis, as some say, then a small amount of physical for insurance purposes is not a bad idea, especially while these items are still relatively cheap. I prefer silver eagles, with a little gold thrown in. I also really fancy the platinum coins, but they are expensive.
After years of only trading gold stocks and not the metal, I bought some bullion recently
Best Regards,
Roebear |
