Tuesday, December 30, 2003

Mahendra Sharma is still bullish on gold. He says that if gold crosses above $418 Monday or Tuesday in NY trading, then in the next 10 days it will trade at $432. Mahendra also says Silver will reach $6 this week and he recommends that you buy silver stocks this week. Link to latest prophecy.

Monday, December 29, 2003

As I write this, gold is again taking out eight year highs, but the dollar is at record lows against the euro, so the gold price reflects a weak dollar, and not genuine gold strength. (See CNN: Gold drifts toward 8-year high.)

Silver is doing even better than gold, but I haven't found any news articles to explain it.

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The new Gold Bullion Securities fund (LSE: GBS) isn't attracting much new gold investment (see Mineweb: Gold Bullion fizzles out). Yes, I know this is old news, I'm sorry about not keeping this blog updated. I'll try better in the future.

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Another old article at Mineweb worth reading is this prognostication about how the U.S. dollar will remain weak, which will boost the price of gold (see US catch-22 to spur gold). However, with most of the gold mines in Canada, Australia, and of course South Africa, the price of gold in dollars doesn't mean that much because all the mining expenses are in foriegn currencies. Gold investors must hope that other nations try to devaule their currencies in response to the weak dollar, and this leaves gold as the only thing not being devalured.

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