Looking at the following chart

I'd say the HUI party has actually yet to get started. Now let's take a look at gold.

Gold has broken out in dollar, euro, and swiss francs. Coupling the breakout with traditionally strong season for gold, it's not unreasonable to assign a $500 price target for 2005. The target can actually be reached as early as October. And keep in mind it took mere weeks in 1980 for gold to reach $850 after the $500 resistance was overcome.

In my opinion HUI will follow suit very quickly by breaking out of 250 resistance to go as high as 500 within 6 months.

I am particularly fond of silver and you can find my silver write up at

http://goldinsider.com/ape.htm
http://goldinsider.com/8_11.htm

John Lee
john@losb.net
www.maucapital.com

22 September 2005

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