Check out these quotable quotes on gold and precious metals from global markets:"If we have not seen the bottom, it is awful close and precious metal stocks are a bargain of a lifetime, cheaper relative to the gold price than even the bear market bottom at $250 gold in 2000/01. We now need to see the markets, TSX and S&P go higher than there last high on Oct 20th and Oct 14th respectively."
(From Struthers Resource Stock Report)Get Indian Commodity Futures Prices Here!"For those that have held back on rebuilding gold share exposure, I think this walloping provides an opportunity but don't go chasing them on days when gold is up. For some that I know who tend to overdo it, don't back up the truck and use the margin just yet...too early for that in my view. I want to see more evidence of the Dollar rebound rolling over, as well as a little basing action on the individual charts...
One reason for attempting a little javelin catching on gold is the latest Market Vane Bulls number, 54%...I would have preferred even lower, but the downside spikes over the course of this cycle have tended to rebound quickly from the 50% area. Yes, in spite of the price damage of the past 6 months, I continue to believe in the secular up-trend case."
(From Deliberations on World Markets)"Gold Stocks: The Bottom Line – we believe that the current recovery rally in the gold stocks will be dramatic, and that gold indices should be setting up for a move on the order of at least a 50% recovery of the entire decline. For the XAU, that kind of rally would lift the index back up toward 115, while for the HUI the equivalent move would be 280. For the GDX ETF, a rally back to $30.00 would be a 50% recovery. Mind you, it is possible that if the turn in the Dollar is big enough, we could be surprised on the upside, but for now, we believe that the potential exists for a rally in the mining stocks, large enough to recover half of the entire decline from the July highs."
(From Gold Stock Technician)
