Henry Weingarten  Last Updated:

6/5  As previously forecast, we believe the US dollar began a bear market in May.  This will accelerate in the 4th Quarter of 2000 into 2001.  If so, this will be one MAJOR positive for Gold.  This makes our previously released  2000 year end trading target prices above $350 and XAU of 101 more probable despite all the obvious negatives for holding Gold.

We maintain our basic buy and hold of Gold Stocks. Primarily, we are holding ABX and HM and would trade PDG and  watching BHP.  In 2000, we avoid South African mines as having too much country risk. We prefer Canadian companies which are desirable for their currency appreciation versus the US Dollar.  ABX is a blue chip and is the safest to own until everyone wants Gold.  If that becomes the case, then we will switch from majors and go play in the Southern Hemisphere (Australia first and South America second). However, we do not foresee this as likely this year, although possible in 2001.

"A portfolio without gold is a luxury you can no longer afford."
The World Gold Council
"The cheapest long term protection against the eventual US Dollar decline is GOLD."
Henry Weingarten

Our long term recommendations remains the same: just continue to accumulate GOLD as time goes by.  Gold is cheap insurance against both inflation AND a future declining US Dollar!
Excellent Risk/Reward to buying Gold and Gold stocks over the intermediate and long term.
We still target GOLD above $300 and the XAU above 100 between the Fall 2000 and 2001.

To see our previous gold buy recommendations, click below:
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