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« Precious Metals: The only refuge | Main | Barrick Gold Corporation: Why? »

Gold Prices: After Labor Day!

US Dollar 31aug07

Today is the last day of August and for metals bugs it’s a case of good-bye and good riddance. Torpedoed portfolios lurch directionless in turbulent shark infested waters. Some investors have already thrown in the towel; others wish that had joined them. Are we about to join them? Not a chance!

Next week sees in Labor Day, 5th September, just another day to some but we see it as the end to the summer doldrums and a resurgence of interest in the markets generally and the precious metals market in particular.

The hole has been dug and the dollar is about to be slowly buried. What other choice does the Bush administration have? One way or another some folk are going to be upset, the holders of dollars in foreign lands or the embattled house owners.

The presidential election is creeping slowly towards us, so do they sacrifice the dollar and possibly get re-elected by lowering interest rates in order to add a little cheer to those who can vote for them or do they protect the wealth of others? The answer appears to be obvious to us, as we don’t know too many politicians who have the guts to do the right thing, but we know a few who will do whatever it takes to remain employed. Cynical? Yes it comes with experience!

However as metals bugs we are heavily invested in gold and silver stocks and feel very positive about being in this small market sector. The negativity that hangs over this sector, the market sell off, the sluggishness of the Gold Bugs Index, inflation under control so they tell me, its enough to give up. But, gold refuses to lie down, stubbornly holding on despite the snipers. Eventually the dollar's demise will become apparent, inflation will be out of the box, gold will move higher and the stocks will follow with a bang. When? From the 6th September onwards through the fall and well into next year.

Take advantage of the fog and relieve some of the ditherers of their quality gold stocks while these prices last.

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Reader Comments (2)

Hello, I enjoy your website tremendously!! You offer very sound advice and theories. I am a gold stock holder of the following: Goldcorp,Yamana, Aurizon and US Gold. I wanted to get your opinion on the last three. I am a little worried about holding onto juniors. Do you think they will do well?? Thank you, Mack.

September 16, 2007 | Unregistered CommenterMack

There is a school of thought that that believes that the juniors will outperform the others and we dont particularly disagrees with it. However a lot of juniors have not found any gold yet and may never do so. So at the risk of missing the 'big one’ we are mostly invested in gold miners that actually have some gold and are well managed.

But let us put you off, we have been wrong before.

September 22, 2007 | Unregistered CommenterGold Prices

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