A couple of interesting exerts from an article by Neil Charnock, 3rd Sept 09.
"A global demand wave inflicted on our small gold sector would push share prices into equilibrium with North America in quick order and to a point this has already begun. As gold breaks US$1,000 and moves strongly upwards soon we will have the added force of a coordinated global gold stock rally. The upside potential is fantastic".
"The XGD has broken out and up with power today. The Australian Gold Index (XGD) has risen 351.8 points as I write this article - which is up 7.23%+ to 5,219. The Aussie Dollar remained virtually static over night so the large US dollar gold jump translated into an equal jump in the Aussie gold price which now stands at $1,170.
I have been warning that time was running out to buy gold stocks before the break out and this now looks like this was a good call. Of course we are now looking at resistance levels in the POG and it may take a shot or two at the magic US$1,000 level before we blast off. The shares are telling us and have been telling us by their behavior that the break out is imminent".
Full article @
http://www.kitco.com/ind/charnock/sep032009.html
TAM Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
