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Subject $3000.00 Gold - "The Purest Play Against the United States Dollar."
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Original Message 2008 Gold Forecast with US$850/Oz as Next Psychological Barrier to Be Smashed Plus Valuation Metanor

/PRZOOM - Newswire/ - Research Group Updates 2007/2008 Gold Forecast with US$850/Oz as Next Psychological Barrier to Be Smashed and Bullish Valuation Commentary on Near-Term Gold Producer Metanor Resources as Metanor prepares for gold production.

New York, NY, United States, 11/09/2007 – Madison Avenue Research Group has revised commentary to the report that explored a global gold mining supply side predicament, offering a 2008 gold price forecast review
The Addendum report/update may be viewed free of charge online.

Excerpts from report:
1) Our old bullish 2008 gold forecast commentary from Oct.16, 2007:
Madison Avenue Research Group's outlook for gold as articulated seven months ago (March 6, 2007) remains extremely bullish. Our sentiments at the time were shared with Louise Yamada, managing director of Yamada Technical Research Advisors LLC in New York, former head of technical research at Citigroup. Yamada saw (and correctly so) gold surpassing US$730 on its way to US$3,000 within a decade. "Gold is the purest play against the dollar,'' said Louise Yamada. Yamada is highly respected and was was voted Wall Street’s best technical analyst from 2001 to 2004. ...

Our updated commentary on happenings as of November 9, 2007:
The psychological level of $850 is our next target as it is the record peak struck in January 1980. Gold rallied to a 28-year high of $845.40 an ounce on Wednesday (Nov 7, 2007). Investors seem keen to drive the metal to a record high as the dollar continues to tumble to an all-time low against the Euro and oil continues to rally. Gold is a safe haven with credit markets in turmoil and the health of the U.S. economy in doubt. A downbeat economic forecast by Federal Reserve Chairman Ben Bernanke has added fuel to the fire this week.

Looking forward, Madison Avenue Research believes that gold is technically overbought now and profit-taking pressure should grow, but funds will flow into gold on weakness because gold has been performing extremely well and the psychological $850 barrier should be taken in the near-term; the powerful bearish momentum on the US dollar is driven by fundamentals, technicals, and psychology – a difficult combination to reverse trend on.
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