I think that we have not seen the end of this gold rally yet. However, if we do get a global equity meltdown, we may see margin calls and mutual fund redemptions like we did in the fall of 2008. If that is the case, then everything gets taken down, including gold and great undervalued plays like CMM and GNH. However, gold will be the first to bounce back along with companies like CMM and GNH. The softness in our price right now is a combination of profit taking, some investors concerned about CMM delivering on their promises and now possibly some people seeing the potential for things to get much worse and going to cash. One thing is for sure, Volatility will be the name of the game.

I own GNH, CMM and Noront in that order and have about 40% in cash in case things get ugly and we see huge bargains out there. Good luck to all!

Glorieux