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<p>[QUOTE=&quot;Cloudsweeper99, post: 848482, member: 3011&quot;]I think the royalties on miners are bullish for gold [the metal, not the stocks].&nbsp; It might have the effect of lowering the supplies of new gold coming to market, which would support the price, not depress it.&nbsp; And the recent pullback and support in the 1100 region looks more like a continuation pattern than a top.&nbsp; If you view the attached&nbsp; chart of GLD [as a proxy for gold] you can see that this has happened several times before in the gold bull market.</p><p><br /></p><p><a href="http://finance.yahoo.com/q/ta?s=GLD&amp;t=my&amp;l=on&amp;z=m&amp;q=l&amp;p=&amp;a=&amp;c=" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://finance.yahoo.com/q/ta?s=GLD&amp;t=my&amp;l=on&amp;z=m&amp;q=l&amp;p=&amp;a=&amp;c=" rel="nofollow">http://finance.yahoo.com/q/ta?s=GLD&amp;t=my&amp;l=on&amp;z=m&amp;q=l&amp;p=&amp;a=&amp;c=</a>[/QUOTE]</p><p><br /></p>

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