March 13, 2004

The Secular Bull Market in Gold is Alive and Well

Below, long-term charts for the XAU and the HUI. Charts are done in log-scale with weekly closes and a 52-week moving avearge. Despite weakness in the spot gold price, and even gold stocks "getting ahead" of the move in gold, the long-term trends behind a secular bull market in gold are holding firm. Gold is still a buy.


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