Precious Metals Market Timing Gold, Silver and the HUI Ron Rosen Jun 21, 2005 "Time is more important than price; when time is up price will reverse." -W.D. Gann The Delta turning points, Gann 30 year master cycle, similar patterns from 30 years ago for gold and silver bullion and the flat correction in the HUI continue to be in place and are performing as expected. This means that the bottom for gold and silver is many months away but the HUI will be bottoming this summer. Since the HUI topped 12 months before gold bullion it should be no surprise that it will bottom first. The charts below show the similar patterns 30 years apart for both gold and silver. 30 year Gold cycle still demonstrates very similar patterns. Notice that this week's peak went above the previous peak just as it did 30 years ago. Next move was a sharp decline 30 years ago. click images to enlarge the charts GOLD WEEKLY 2005 GOLD WEEKLY 1975 The HUI flat correction still intact and the small 4th wave up may have completed on Friday. If so next move may be down to end this 18 month correction and give you an opportunity to buy some undervalued Precious Metal shares. MEDIUM TERM = GREEN LONG TERM = YELLOW HUI WEEKLY WITH DELTA MEDIUM AND LONG TERM TURNING POINTS MEDIUM POINTS = GREEN INTERMEDIATE = RED HUI DAILY WITH MEDIUM AND INTERMEDIATE TURNING POINTS SILVER 30 YEAR CYCLE PATTERN STILL SHOWS LOWER HIGHS SILVER 2005 WEEKLY SILVER 1975 WEEKLY Ron Rosen email: rrosen5@tampabay.rr.com Subscriptions are available at: www.wilder-concepts.com/rosenletter.aspx Disclaimer: The contents of this letter represent the opinions of Ronald L. Rosen and Alistair Gilbert. Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Ronald L. Rosen and Alistair Gilbert are not registered investment advisors. Information and analysis above are derived from sources and using methods believed to be reliable, but Ronald L. Rosen and Alistair Gilbert cannot accept responsibility for any trading losses you may incur as a result of your reliance on this analysis and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions. The Delta Story Tee charts reproduced courtesy of The Delta Society International. 321gold Inc