Gold to $700/ozThe institutional investors and funds want the retail investor to think exactly that way. Sell anything and everything to do with gold and move on. Then when they have the positions they want you buy them back from them at $700+ gold. Juniors and even majors now have fallen so hard in the last 3 weeks everyone should be buying them. They are way over sold and the rebound is coming and it will happen quicker to the up side then this recent down side. ARU is a great buy at these levels.
GHA.h, SK, RG, etc.
Gold likely to cross $700 per ounce by year end
FRIDAY, SEPTEMBER 15, 2006 01:50:48 PM
NEW DELHI: Gold is expected to cross the $700 per troy ounce mark before the year end due to significant investor demand despite the short-term weakness, a leading global precious metals consultancy has forecast.
"Gold price could well track higher, clearing $700 before yearend (1 troy ounce = 31.10 grams). The prime driver of this move was seen as the return of significant investor buying," the London-based Gold Fields Mineral Services (GFMS) said in its latest 'Gold Survey 2006'
Over the past 10 days, global gold price has witnessed a fall from levels above $630 per ounce to below $580 per ounce on Thursday. This trend is not expected to last, feels GFMS.
"All the conditions are still there for a big up-tick in investor interest. As ever these centre are on the dollar and we're still bearish on that given the huge US trade deficit," said Philip Klapwijk, executive chairman of GFMS.
Looking further into 2007, GFMS expects the prices of bullion to go yet higher, "particularly if we were to see a major 'event' such as US military action against Iran".
https://economictimes.indiatimes.com/articleshow/1993434.cms