While we are waiting eagerly for the next NR from GCU, eyes are also on the collapsing financial system in Europe, and fearful of the consequences.

I was looking back to some Editorials on the gold-eagle.com site and came across this written on 9 April this year.

The forecast is spot on up to now. He thinks gold would bottom out around the $1500 area +/-.

What is interesting is his forecast from that point on- read on!

http://www.gold-eagle.com/editorials_12/jones040912.html

This market has fooled most gurus over the short term, but this one hopefully could be right. Most analysts agree that gold will be multiples of current price in a few years time. There are some however say gold will drop to $1100 or even $700! Hope not!

I also read an Elliot wave forecast for gold and this coincides with the above analysis, The caveat of course is whether we are in uncharted territory and technical analysis would be swept away and a huge collapse is just round the corner which "will take no prisoners".

Being an optimist I am holding on to GCU and looking forward to some good forthcoming drill results!