This Is a High Gold Price

5 May & 25 June 2011

Gold is now down almost $100 from its recent peak of $1575.10 (which occurred earlier this week).

This is still a VERY HIGH gold price.

Gold is doing fine. The miners will do exceedingly well anywhere within a couple hundred dollars of here - either way - and make no assumptions about which way!

Take Goldcorp, for example, who just released first quarter earnings - what a quarter!

Anything is possible.

Half hour before market close. Still falling. Down about $115 from the recent top.

This is OK too. There is nothing wrong with the gold price.

In a year or two, brief $100 moves will not be unusual, as gold will be much higher than it is today. I guess we'd better get used to it now!

25 June 2011: Just checking in to remind readers that the gold price is still high. $1558... $1500... $1400... $1600... does it matter? It's just high - and going higher!

The gold miners are doing wonderfully. Their stocks are selling at incongruously low prices. Though anything can go lower on a short-term basis, long-term, they can only go MUCH higher.

Nothing has changed.

Gold mining is the best business on the planet.

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