Mr Grummes,of Munich,Germany has this to say about bullion and gold stocks. Gold is in a short term downtrend,has not tested the 200 da ma $1143.96 and the lower bollinger band at $1089.60 gives more room for an extended correction. The medium and longterm picture is still very bullish.Long term he expects the price of gold to the Dow to be1:1,now 8.77 DJ:Gold. His price target for gold in Euros 850E,a price under 890E should be used to slowly buy gold. The HUI was at support 440 now higher, should it move down under 440 we have a clear and big sell signal,all in all "he would not buy gold stocks right now" "Gold has a strong seasonality. During July and August the price normally moves down or sidewise,while September is one of the strongest months in the year" Volumn is low now and we face erratic price movements all over the place." " In the long term Gold should be on the way to my next price target around $1600. But right before those big moves there has always been a nasty setback [often in July and August] to shake out the weak hands."All in all the markets seem very unstable. The high volatility does not indicate a healthy environment. I expect the bears to take over within the next days. This should bring Gold down to at least $us 1140-1165 during August. A decisive break of the uptrendline aroung $1180 could lead to a nasty and quick sell off." In case of a renewed deflationary collapse I would not be surprised to see Gold move down to under $1000. in the coming months. This of course would be a great buying opportunity." NOTE: Earlier he mentioned that the medium and long term price target is the Fibonacci-extension of 261.8% of the last big correction at $1600.. This possibly until the end of this year or early 2011." jasmts