Gold Prices

Sri Lanka Boosting Gold Reserves

Gold Prices — Fri, 06 Nov 2009 21:03:42 +0000

Hot on the heels of the Indians the Sri Lankans have wasted no time in turning to gold in order to boost their own gold reserves in favour of the once all mighty US dollar.

We draw your attention to this snippet taken from Yahoo News (more…)

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High River Gold (HRG) Undervalued?

Gold Prices — Thu, 05 Nov 2009 21:06:04 +0000

In this mornings mail bag we have this update from Chris Charlwood regarding the valuation of High River Gold (HRG) as follows:

Alfa Banks states that the attached 8 pg. report may have inaccuracies. For instance, to me, the debt looks high and share count low. However, the important part is that Alfa says HRG is trading at 1/3 of what it should be and, therefore, valued at $865M or $1.17/share (based on their share count). They use a 7 times multiple. This share value is much lower than our peer average comparison of $2.95/share (19.3 multiple), but at least it shows a significant improvement to current price. Also, it shows that HRG makes up 55-60% of Severstal’s overall gold production (more…)

Why Gold Has a LONG Way to Go

Gold Prices — Wed, 04 Nov 2009 21:03:25 +0000

An interesting read provided by Jeff Clark, Casey’s Gold & Resource Report

A couple weeks ago, I had my TV tuned to a business show that loves to give predictions on the markets and the economy. On that day, one of the program’s regular guests declared it was time to “short” gold, that it had reached its top, and that the precious metals bull market was over. I’ll try to be nice in my rebuttal (more…)

Agnico-Eagle Mines Limited: Bought a few Call Options

Gold Prices — Wed, 04 Nov 2009 01:16:48 +0000

On the 1st November 2009 we signaled our intention to acquire more of this stock and some Call Options when we posted an article entitled Agnico-Eagle Mines Limited (AEM) Buy, Sell or Hold following the hammering that the stock had just taken and concluded as follows:

In conclusion we think that the punishment does not fit the crime and that the selling has been overdone. So we see it as a buying opportunity. This week we will seriously consider making another purchase of the Agnico’s stock and may also buy a few of the longer dated Call Options (more…)

High River Gold (HRG) Financing Covers Debts, Has Downstream Implications!

Gold Prices — Mon, 02 Nov 2009 21:30:37 +0000

We now have the latest update from Chris Charlwood which is not only interesting but it also calls for some action on your part.

To all Minority Shareholders of HRG (more…)

Agnico-Eagle Mines Limited: BUY, SELL or HOLD?

Gold Prices — Sun, 01 Nov 2009 21:14:42 +0000

Last week closed with one of our favourite gold producers, Agnico-Eagle Mines Limited (AEM) taking a hammering as this sector took a breather and Agnico released poorer news than the market anticipated. As we see it the initial sell off has been followed by stop loss programme selling taking the stock down to $53.53.

First of all we will take a quick look at the results and try and assess if the sell off is justified or not, starting with the opening paragraph (more…)

Gold, the DOW and the USD

Gold Prices — Thu, 29 Oct 2009 02:34:50 +0000

A quick comparison between gold prices, the DOW Industrial Index and the US Dollar raises a few tricky questions as gold has slipped back below its previous resistance level of $1033/oz. We can all remember last year when the broader markets tanked and the gold and silver stocks were also dumped regardless of golds performance (more…)

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Kinross Gold Corporation Update 26 October 2009

Gold Prices — Tue, 27 Oct 2009 02:19:13 +0000

Kinross has released an update on its Paracatu expansion project in Paracatu, Minas Gerais State, Brazil, as follows:

The Company has revised its overall guidance and now expects to produce approximately 2.2 million gold equivalent ounces at an average cost of sales per ounce of $435-450 for full-year 2009 (more…)

When Will Inflation Really Hit Us?

Gold Prices — Sun, 25 Oct 2009 02:08:33 +0000

Some interesting reading this weekend is this ‘take’ on inflation by Terry Coxon, Editor, The Casey Report

Most of us are gathered at the station, watching for the Inflation Express to come rumbling in. But we’ve been waiting for a while now. Just when should we expect the big locomotive to arrive and start pushing the prices of most things uphill (more…)

A Readers View of the Current Situation

Gold Prices — Wed, 21 Oct 2009 20:39:42 +0000

Enlightenment here it comes. Understanding around the world that paper money was a depreciating reality has been around for a long time, but understanding and realisation are two different things. The tipping point came with QE. The realisation that governments and bankers are the enemy of one’s personal wealth has finally dawned upon an increasing amount of ordinary people turning them towards the only recognised form of safe value namely gold (more…)

Gold, Silver, HUI and the Dollar Compared

Gold Prices — Tue, 20 Oct 2009 22:08:13 +0000

A quick look at the above chart and we can see just which investment vehicle has performed the best over the year so far. The unhedged gold and silver producers as represented by the Gold Bugs Index, known as the HUI is in pole position with a terrific gain of 146% (more…)

USD To Rally Within Bearish Channel?

Gold Prices — Mon, 19 Oct 2009 19:31:08 +0000

The USD is in a strong down channel as shown on the chart above. Although the overall trend for the greenback is still firmly bearish, there are opportunities for the greenback to rally within this channel, and that is when buying/trading opportunities will appear in gold (more…)

Gold Prices: An Alternative View

Gold Prices — Mon, 19 Oct 2009 02:52:50 +0000

In an article entitled ‘The fall of gold price could be as spectacular as its rise’ by David Robertson of Emirates Business 24/7 an alternative view is presented regarding gold prices that may be of interest to you, as follows (more…)

The Dollar in Your Wallet Is Only Worth 18¢

Gold Prices — Thu, 15 Oct 2009 20:33:39 +0000

As much as that we ask, a take on the purchasing power of the dollar by Jeff Clark, Senior Editor, Casey’s Gold & Resource Report

“A dollar is worth only 70¢ now,” my Dad jabbered as we worked in the backyard. “And they say it’ll only be worth 50¢ in a few years.”

It was the mid-‘70s. I was helping my Dad build a dirt road to our barn and he wasn’t happy. Not about the hard work or humidity, but from what was happening to the dollar. Inflation was starting to kick into high gear, grabbing headlines that even a girl-chasing teenager could understand (more…)

Desperate Dollar Heading to the Basement

Gold Prices — Thu, 15 Oct 2009 06:11:57 +0000

The above chart shows a snap shot of the US Dollar sliding lower and lower on a daily basis, the next stop is at the ‘72′ level from where its rallied the last time it traded so low.

This is a key support level that needs to hold if the dollar is to retain any credibility. If that fails then the dollar could go into free fall sending gold prices dramatically higher (more…)