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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?


To: Murray Grummitt who wrote (14920)6/29/2002 5:34:00 PM
From: Crimson Ghost  Read Replies (1) | Respond to of 36161
 
Valuation models are of marginal use here. The XAU serves as a LEADIING INDICATOR of the gold price. Buying it because it seems "undervalued" relative to POG can be a costly mistake.

The time to buy the XAU will be when it starts to ignore the "bad" news. Would not surpise me to see the XAU remain flat or decline only slightly one of these days as bullion plunges another 5 bucks or so. THAT would be a great time to get back in.