Gold Stocks Revisited (5/22/07)
The street has taken the gold stocks to the wood shed.
Gold is still higher than it was 2 years ago. In 2 more years gold will be higher than today.
Nem has been beaten up and was the premier gold company.
They have some future problems of gold reserves but their proven reserves are equivalent to $200 per oz.
Therefore their stock is 1/3 the value of what it could be. Now when hedge fund managers and mutual fund managers don't buy and even sell their positions then the supply of stock is on the market driving the price down. That is when you need to buy.
Even the prime candidate of gold companies has been out of favor lately. That is GG. Keep accumulating GG and start to dabble in NEM. All for the long term.
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