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

cheers GF.

Yep I know.

Hes also told me why and I dont buy his argument.

There is a real scandal with Sibir Energy today....knock on effect ? hope not as I'm in Petroneft for the longterm !.

Looks like EK is right sp down 11% today

It's good that EK is shorting POG

Is it time to buy..?

no

what price cynic..?

don't know, but would be more inclined to short still ..... gold has been heading south for a while now and has lost a further $15.00 today to $752

It was 400p last week and now back to 230p incredible movement..

Gold may go $700 but in 2009 I reckon it could double.

Got to wait for forced sellers eg, hedge funds unwinding positions and then we will be back in action.

Do we go for explorers or producers that is the question.

Any here with thoughts on this?.

Well there's CEY (production soon), AVM (production in the far east), and loads of small explorers with their sp's in the pennies !, also LRL (out in China....small explorer with gold sticking out of the ground from what I gather but needs help from a major).

I think that if gold recovers CEY will rocket : 13 million ounces or so in the ground or close to that and production to start soon....getting in at the right time will be the tricky bit.

I am waiting for 200p before buying I'm sure cynic will tell me..I guess 100p is the 2003 low.

200 may be ;marginally early to expect at least a bounce, but not that far out ....

Whats your thoughts now cyners after the rally today?.

gold further up and shorting figs for november in POG just out...

GB0031544546 PETER HAMBR ORD 1P 7117860.10 61081415.35 11.65

11.65% stock on loan.

Would support buyers drive the SP northwards on closing out positions. Looks like TA argument is taking a back seat at the moment.

May go for a short term punt in the morning but wait for 30 mins because spread is ludicrous on this one first thing.

You tempted???.

Gone in long, cautiously.

'The Guru' is away on business for a week, so you are flying solo.
I seem to remember seeing an article yesterday from EK tips which said that although everyone seemed to be long on gold now, EK was still short POG.
EDIT - ADDED:
"Another high figure is the rate of interest charged by the founding shareholders of Peter Hambro Mining (POG) for USD. This is 18% p.a. But it really underlines the very high cost of finance in the FSU and Russia . I have sold Peter Hambro at 340p. I am also told that the claimed cost of mining Hambro's reserves seems ridiculously low at $170 an ounce."

Hi HC,

yep Ive spoken to simon about his short on POG.

Just dont buy his argument as the last results show that POG can extract gold at a big margin even with this high charge adding to cost base. He didnt sound so convincing anyway when I went further into the bull case.

Was really wanting to gauge cyners take on TA on the market.

You short then?.

No. I don't short stocks. Too scary for me!
I have received a big aticle by e-mail on POG which I will post as soon as I know the source, but it concludes in saying that they do not agree with EK's position.

Hi harry,

sounds interesting.

Any chance of sending a PM?.