the fundamentals of supply and demand favor gold going up and pm stocks going up. I have never thought much of the war as a fundamental factor in the increase in pog. It was hyped as a factor, which resulted in the large run up, and its being hyped as a factor resulting in an equally large drop. The true market value of gold without the war head fakes, is around 340-360 in my opinion. Once all the overreaction gets out of the way, then gold will resume its normal course, and there will be a large jump in the pm prices.