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

cheers GF.

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

Either way nice to have this in the portfolio with the rest of the market looking a bit red today.

indeed .... as are my quite heavy short positions in both Dow and FTSE!

Yes exactly and US PPI is the one to watch at 1.30pm. MoM expected 0.5%, ex food and energy, 0.2%. YoY 3.7%. Michigan confidence at 3pm expected 84. Good luck!

am substantially in the money on Dow but have put in quite close stops

Cynic: good luck with your shorts - I was a bit concerned for you this morning! I haven't got the hang of CFDs yet - just stick to conventional stock buying. POG could be good but I need to do a bit more homework before I decide when to leap in - haven't been following it for long.

Tipped at the weekend in the Momentum Investor - the shares are pricing in significant contribution from Pioneer but no value is attached to Malomir, which could yet become a world-class producer. And all this before the recent auction win.

Looking very good today, very healthy gains coming through as we head back up to the recent highs.