Welcome To The Monument Mining Ltd HUB On AGORACOM

Edit this title from the Fast Facts Section

Free
Message: Run With The Gold Bulls

Run With The Gold Bulls

posted on Nov 26, 2009 08:47AM

http://www.forbes.com/2009/11/25/newmont-kinross-vancouver-personal-finance-investing-ideas-eldorado-gold.html?partner=yahootix

Gold is going into strong hands like hedge funds managed by John Paulson, Paul Tudor Jones, David Einhorn, Eric Mindich, David Hayman--the cream of the crop. Public institutions like central banks in India and China are big buyers too. Momentum on gold is building now, as latecomers climb on the bandwagon.

We're seeing demand for gold all over the world. Pension funds allocate about 5% as protection against the weakening dollar. Chinese citizens are encouraged by their government to hold gold, not dollars. On Nov. 18, Russia's central bank announced it would buy any and all gold its sister organization, the State Depositary for Precious Metals and Gems, was willing to see. Now the Vietnamese central bank has granted quotas to import 10 tons of gold for use by its banking system and gold traders.

This should be only good for MMY, Gold producer, this is only the begining of Gold rise, junior producer will wake up later and mmy price could soar to new all time high, you never know with this play, it can be tomorrow that we see 1CAD, right now 0.41 seems to be extremly cheap, 0.5 is waiting

Share
New Message
Please login to post a reply