Profunds index and sector trading

[Namiar]

Hio Steve!

Gold at $1118 this AM. We discussed POG probably way back as early as 2003. I recall you saying what $3000 per oz. was your prediction?

I make an annual gold purchase each January, the first such purchase at $325 per oz.

Last year my father, who is 84 now, gave me a $5000 gift to invest for my daughter - he has done this for all his grandkids.

He was a little surprised that I went down to our local gold dealer and bought coins. The guy at "Fort Knox" - his kids attend the same Catholic School as my girl, gave us spot prices - think we paid $925 or so. When markets crashes POG went down into the 700's, but looking better now of course.

Still targeting $3000 ?? I'm certainly not selling . . .

I suspect that we'll have a buying spike here in the next few month, pushing POG to $1500 possibly, then backing off and consolidating. A year or two down the road the buying will resume.