http://www.kitco.com/charts/livegold.html

cheers GF.

Well it's picking up again so profit not so far away. Goldman end of Sep issued target fo 1450p. (To keep it balanced I should mention the Alfa Bank 1248p and Aton ?? sell 914p). I prefer the Goldman/Merrill big boys!

The issue of $150m with a Gold option looks to be well received by the financial community with funds to be used to progress Malomir and Yamal. We've had a year long consolidation period so now it's time to be heading swiftly much higher in my opinion.

Now we've clearly broken this congestion zone for year highs to press ahead for 1600p and the all time highs. Good comment too in the weekend press regarding the bond issue.

So finally looking as though we could be heading north of 1300 soon. All looking good for the future with further development to come imo.

HSBC came out with a neutral stance on this one yesterday, target 1300p but there are rather some mixed opinions:-

Merrill 23/4 2000p buy
Canaccord 21/9 1400p buy
Arbuthnot 24/9 950p neutral
Citi 24/9 1800p buy
Goldman 27/9 1450p buy
Aton(?) 913p sell
HSBC 9/10 1300 neutral

I'd rather stick to somewhere between Goldman and Merrill.

if gold continues its upward trend as seems most likely, then POG will be a serious beneficiary ..... though there is "Russian risk", POG is one of if not the cheapest producer in the world .... furthermore, it is a solid and very long-established company with an equally long history of dealing with the Russian hierarchy and gov't prevailing

Not forgetting the senior management Russians able to oil the wheels...

exactly that .... which is partly why i have gone back into TIO ..... go look

Will check it out cynic, although my exposure in that part of the world is perhaps at its maximum.

ZAO Omchak, a venture between POG and Russian miner Susumanzoloto, won an auction to develop a gold deposit in east Siberia. The deposit holds 10.5 tons of gold.

Golden Cross now taken place as well to start retargeting the all time highs.

i am not certain of the "potency" of a golden cross (50 dma crossing with 200, both being on an upward trend) but for sure it cannot be bad! .... anyway, i post below the 2 year chart really just to highlight the all-time high at 1700 ...... long way to go, and plenty of sneezes en route for sure! ......

I quite agree on the long way to go, but have a look at graph from 2002ish, I think this just substantiates a good solid 2/3 year hold and who knows if they get taken out at some point in the future.

Your sentiments on Golden Cross are completely justified, you never know the true effect. This last happened in POG in summer 04 below 6.

I can see the headlines, POG Puts on a Pound!

on a very simplistic chart as below, i think there may be some (serious?) resistance at this level, not least because of the headlong upward rush, so i have top-sliced 40% of my holding and banked a very nice profit considering i held that portion for only 10 days

i think sp could quite easily come back to +/-1240 where there is now support purely on profit-taking especially if bullion also reacts a bit

I agree almost certainly there will be those taking money off the table but the bigger picture with bond funding, newly acquired gold deposit plus development of exisiting mines bodes well. The recent rise has been quick but don't forget the consolidation has been going on a couple of years so the momentum could well continue. The whole sector has had an incredible day, Acquarius Plat up 9%, Rio Tinto some 4% when I last looked and gold up almost $9. Dollar taking another hammering against the EUR and 1.45/1.50 not so far away. Interesting times!

oveer the longer term, i certainly do not disagree, but as a trader and with the markets (over)due for some correction, money off the table is no more than prudent ...... am also now running shorts in both Dow and FTSE, not least as a hedge against my long portfolio

Seems entirely reasonable with today's US jobless claims data better than expected (marginally). Maybe those US interest rate cuts won't come as quickly as some predict. I have POG for the long term in part as a hedge to weakness elsewhere in the market.

POG off to a great start again today, though it's far too early to tell whether or not this level will hold - see potential resistance on chart above

My interpretation of the charts is a clear break of a highs and lows channel at about 1200p. Personally I don't see much resistance between 1200p and 1650p. Either way I don't mind if it's a steady rise and a period of consolidation but something tells me the picture is changing and we could rapidly be at the highs by year end.

you could easily be right and am still holding what is effectively my "norm" at this morning's price ...... shall be happy to add as/when we have a couple of bad days