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

cheers GF.

Up $10

Just a bit of a correction in my opinion as financials regain some strength.

i think you are prob correct, but given that $ is strengthening which leads to gold weakening and the markets in general being less than sanguine, i decided that some banked profit was no bad move ...... i still think the company is great, but as you said, it had a sudden and meteoric rise and needs to refresh and consolidate

Also the US reiterating their strong dollar policy, nothing new there then. Dollar will get sold again. Cable moved quickly from 2.10 to 2.05 but dollar weakness isn't over yet imo.

phew! .... glad i was watching closely as managed to get back in on the bounce at 1425

POG sees gold at $900 by end07.
Novogodnee0Monto contained iron ore reserves of 4.8 million tonnes.
Julietta filed in Magadan region, risen by 1.7 tonnes, silver by 15 tonnes
Gold deposit in Krasnoyarsk increased by 3.8 tonnes.

That news is not brand new, few days old but not seen a mention of it here.

see chart post 147 .... have just topped up as sp got slammed yesterday without any reason other than general sell-off

Indeed, and a lot seem to have been marked lower on a bad day. These large daily swings in stocks are becoming the norm.

POG had had a big rise over recent weeks, so it was an easy target on a bad day

Been chasing the share price for last ten minutes, its been quite lively, couldn't get a quote so put in a limit which was just filled at a smidge under 12.99, hope to see a couple hundred points on FTSE before end of week and likewise these to go back over 14.

sp really ought to bounce significantly from this level ..... selling or MMs hammered the price yesterday without good cause, sp now nestling on 25 dma, bullion is stronger and $ is weaker

futures pointing higher. Red one day and then we'll probably read of the biggest rises.

Fast turnaround again. Volatility reigns!

Good to see some gains again here. I would have thought we're in for a couple of lacklustre days until Thanksgiving is over and business returns on Monday. Gold picking up from the recent lows however.

Any views on gold spot price? It's been bounded about in the press that it could go to 725-50 before continuing its next leg up to $1000?

I suppose the main bet is on whether fed reduces rates again?

The set back below $800 in last few days is a good thing for setting up the next rise. You are right there have been a lot of articles in the FT on gold, one yesterday even, pg 42. POG themselves said they see gold at $900 by end 07. There was also another well thought out article in the last few weeks in the FT about the gold bull run only just starting and $1000-$1200 shouldn't be ruled out in the next 2 years.

FX wise I expect to see a weaker dollar until 2009. FX markets always overrun and with US rates only just starting to come down and more talk of US recession next year, all the more reason to buy into precious metals.

I read somewhere that if it were to reach the levels of 1980 it would be at $2200 in context of inflation. goldbullion.com quite informative. Seems to be a lot of protectionist measures occuring globally as well such as Mugabe planning to seize 51% platinum mines in Zim, Putin oil from shell in Russia. This will affect supply as Mugabe's nearest and dearest probably have little idea of how to run a mine or farm for that matter!

Both gold and silver gaining this afternoon timed with what looks like another good opportunity to sell the dollar. There could be news afoot re BHP/RIO picking up a lot today on recent weakness. With better volumes on Monday we could look to see gold/silver stocks reestablishing the upward momentum.

don't forget that is now "artificially" weak, especially against Euro, as there is a strong likelihood that BoE will reduce interest rates in December and EU Central Bank will not