AI
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Friday, September 16, 2005 2:58:25 AM
***HUI, NEM, & $GOLD, another sell the news event for today... Friday @ 8:30 A.M. when the Current Account Deficit numbers are released...
I've always been bullish $GOLD but I believe that gold companies will be hurt when the next quarterly reports start coming out in October due to the exceptionally high rise in energy costs, particularly oil because $GOLD hasn't risen anywhere near as close proportionately to the cost of oil, in the most recent reports, gold companies were slaughtered due to high oil costs, and now oil & gas is much higher... do the math!
That's not to say I'm not super-bullish on $GOLD in the long-term... there's just some hiccups on going equal-weight or over-weight on the stocks at this point in time that I'd like to see worked out... for instance, how will they react to the initial realization of a potential recession?
I've always been bullish $GOLD but I believe that gold companies will be hurt when the next quarterly reports start coming out in October due to the exceptionally high rise in energy costs, particularly oil because $GOLD hasn't risen anywhere near as close proportionately to the cost of oil, in the most recent reports, gold companies were slaughtered due to high oil costs, and now oil & gas is much higher... do the math!
That's not to say I'm not super-bullish on $GOLD in the long-term... there's just some hiccups on going equal-weight or over-weight on the stocks at this point in time that I'd like to see worked out... for instance, how will they react to the initial realization of a potential recession?
HI-HO SILVER !!!
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