First, thanks to Mike for putting the fundamental into perspective and yes, fundamentals always rule in the end. In the meantime, we have the persistant cartel to deal with. They do not want gold over 1000. It's fairly obvious that they are attempting to cap the current rally at 980. It's just that scared foreigners are running into the dollar that's helped the evildoers keep the metal under this significant level as gold in all other currencies is making all-time highs.

For the moment, the technicals on the HUI and XAU Indexes do not look promising. At best for us, is the action in both will only be temporarily stall advancing share prices. The stock trading departments at the bullion banks along with some hedge funds have some light to pressure both Indexes lower in the weeks ahead. The HUI with a last of 317.94 is currently dealing with a fair amount of chart resistance from the 1000 day moving average at about the 320 area. On the XAU it's bothersome 1000 day average is at about 138 with its last at about 131 or so. Although some major golds look promising others are holding back some. When the time arrives that both Indexes are well established above their 1000 day averages lines, higher prices will follow for months into the future.

Concerning ECU, the investment bankers continue to have a shorting party at our expense. I know its water under the bridge but dealing with these miscreants would have not been my first choice. I am quite aware of the fact that it was more than likely out of necessity but still, getting sucked into their "wild west show" has not been healthy over the short term for our individual asset values.

I took a good look at the CDNX chart and it appears that as long as this index remains below 1000 most exploration companies will continue to languish even if the majors move higher. The last on the CDNX is 913.75, off 2.07.

Concerning the general market and especially the DOW, I fear that its inability to rally is telling a sad story, we're in one heck of a bear market.

The above figures are not current as this was written while not being submitted due to an unexpected development at this location.