Replies to post #17728 on Mostly: Classical

[amarksp]

Martin M sighting #2

Speaking at the Mining Indaba 2007 on Tuesday, Dr Martin Murenbeeld, a world-renowned gold expert and chief economist at Dundee told delegates of the dollar's potential to weaken further and the resultant higher gold price.

Murenbeeld's other motivations for higher prices included limited mine supply and research indicating that the current cycle is only in its sixth year of an historical ten year period.

Overall the economist has predicted a fifty percent probability that gold could average $730/oz this year, although his weighted-probability forecast is for a $674/oz average this year and $755/oz in 2008.

By 5.34pm spot gold was trading up $653.35/oz from Monday's close of $648.15.

[Frank Pembleton]

right now I'm sitting with more cash than I would like expecting a correction ... the action today was lukewarm at best ... yet the PoG seems to march along without my permission.

I was surprised by this mornings up move, I'll even be more surprise if the correction doesn't start tomorrow a half hour before the open.

...and they say bull markets climb a wall of worry.