Overall Portfolio Recommandation:
Gold and gold shares are in a major uptrend but they could weaken this month as the rise was overdone. Upcoming weakness will provide a great buying opportunity and we suggest keeping in touch with our weekly updates. Meanwhile, stocks are looking good but they are still mixed and again at a crossroads.
And still too soon to buy. Bonds are marginal. We are still keeping a large cash position in several currencies and our oversall recommended portfolio breakdown is as follows:
40 % gold shares and gold
60 % Cash: 40 %Swiss Frances, Euro, British Pounds and 20% USDlr. T-Bills.

Emerald.

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