Excellent Risk/Reward to buying Gold. See all previous gold buy recommendations. One especially attractive play is FCX - FREEPORT-MCMORAN CPR & GOLD B or FCX-A FCX-A - FREEPORT-MCMORAN C&G .05 PFD with 6.3% yield and gold sweetener. One final comment: Shame on you Australia Central Bankers!
"WHY NOT BUY GOLD [June 343.40] OR GOLD INSTRUMENTS TODAY?"
We continue to recommend some buying of Gold and Gold stocks in the 340-360 range for market disaster insurance. While there will be steady central bank selling to keep gold under $400, we believe the XAU will outperform INDEXING for the next six months. This is also a good dollar hedge or short. Longer term consider BASE metals as well e.g. Copper and PD (Phelps Dodge), aluminum and AA (Alcoa) etc."
XAU CLOSE 101.94 - SPX CLOSE 841.66
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