Gold down over $20. Headed lower? An reason to hold?

-- (george@gold.bug), February 08, 2000

Answers

I am buying gold mining stocks on the dips. I had planned to buy the first part of Feburary, but it shot up first. I will buy again in a couple of weeks when gold settles down some. In ten years I will be very glad to have my gold stocks and be glad I sold my dot com shares. Maybe in six months I will not see the reward, but in ten years I will.

-- chickenfarmer (no_city@life.com), February 08, 2000.

Gold was only down $4.90 in NY. Where are you getting your figures?

Link

It would be helpful, in the future, if people with exagerated claims could post a link.

-- Farouk Madjurian (fmadjurian@hotmail.com), February 08, 2000.

Any reason to hold? Sure is. That was a correction. Gold will now head higher, to at least $339, according to my charts.

Chickenfarmer, a question for you. If the market tanks, why do you believe that your mining stocks will not be treated the same as every other stock, e.g., taken out an shot? Not a flame, but a question.

Yes, I know that historically gold mining stocks held up during the 1929-33 crash, but during that time frame gold was linked to the dollar. Now you just have a piece of paper.

-- rocky (rknolls@no.spam), February 08, 2000.

Gold mining companies are at historic lows now....if you believe in them, think rationally and buy some now...

the psychology of buying on the dips now will only make you obsessed with their daily value....

If there is one thing which is certain about the gold market, it is that there will be come real volatile periods.

I bought Newmont 18 months ago...in the meantime it has been everywhere between $16 and $28...I believe they will have their day.

By the way, you should also have a strategy on how you will convert the profits on mining shares into real gold.

Good luck

-- thom (thomgill@eznet.net), February 08, 2000.

Well yesterday at New York gold opened at $316, high of 317, low of 299, closed at 303. I guess that 317-299=18 close enough for government work, that's $20. What the heck, 316-303=14, that's "close" to 20 too!

Today of course was another story. Sideways with minor ripples. As for his question, "An (sic) reason to hold?" None, if you think gold is going down. Plenty, if you think gold is going up. duh.....

-- Ken Seger (kenseger@earthlink.net), February 09, 2000.

Ken - right now the change from yesterday's close is +$10.10. Yesterday the change fron the previous day was -$4.90. I realize stocks and comodities sometimes girate wildly during the day. That is why I look at the change for gold at the close of business in NY. It's easier for me that way, since I'm not a gold trader. I'm a gold keeper.

-- Farouk Madjurian (fmadjurian@hotmail.com), February 09, 2000.