Gold Stocks (10/9/07)
If you haven't accumulated any gold and silver mining stocks yet look what the CEO of GG has to say because the plateau in overall gold reserve growth is serious.
Goldcorp's CEO Kevin McArthur says. “I believe that is one of the reasons the price of gold has to go up. We just aren’t replacing the reserves year after year in the industry that we should. We’re not building new mines, the growth is a train wreck.”
For the long term at least for the next 2 years buy gold and silver stocks.
Action to take: Continue to accumulate gold and precious metals mining stocks. Accumulate on any pullback in the price of gold or silver. Don’t chase the stocks, but buy Kinross (KGC: NYSE) up to $18 per share in the near term. Buy Goldcorp (GG: NYSE) up to $35 per share.
« The Best Beer Story (10/8/07) | Main | Question of the Day (10/10/07) »
