4fig - The gold (or precious metals based vehicle) seems to be on the fast track.
Chris Thompson (ex-CEO of GFI, 2nd largest SA miner) took the WGC from Anglo's Bobby Godsell a bit more than 6 months ago. He moved to the US to play a role of gold super envoy in order to promote new demand.
Pierre Lassonde (that is the example of an opponent to hedges if you would search for one <g>) now at Newmont (first NA miner) has been actibve in some PR's last week.
We now, at the WGC, have the wheel in the hands of Calper's Burton, a specialist of mutual funds. He, IMHO, is an adequate CEO for the serched purpose: that famous vehicle which would allow mutual fund managers to invest in PMs.
Now that we can put some names: Burton, Thompson, Lassonde behind the product, we will not have to wait for long. Question of months or weeks.
If the historical October rally is more than wishfull thinking, I would expect the announcement of the gold vehicle somewhere by the mid or end Sep. If so, the rally would fly on boosters (pop somewhere, but would correct at least above May highs.
JMVHO |
