Thanks for your analysis ESL.

Your analysis (and that of others) refers basically to the direction of G&S.

But how do you see the mining shares react in that context? Most of them are at the bottom right now and have hardly reacted on the recent surge of gold.

Would a fast and deep correction in Gold mean another bloodbath in the shares, or will that horrible HUI/Gold ratio start to recover with shares finally going up?

What is your take? T.i.a.