Hi LJ,
Generally, I agree with all your comments, though I am not convinced about the direction of the dollar in either direction as yet.
Gold at $350 is a reasonable target, and would mesh with an POG:HUI ratio of 2.3 at HUI 152. Again, a reasonable target, and fully within the guidelines of bull market action IMO.
Strangely, I think the gold market would be a lot better off if all that occurred within the context of a general market, crash-like event within the next few weeks. The hangover of nervousness would be good for gold, IMO. It's a low-probability occurrence, but one can always hope.
Regards,
crusty |
