Friday, January 09, 2004

StockPickReport.com issued a "strong sell" recommendation on Durban Roodepoort Deep (NASDAQ: DROOY) today. Good thing I don't listen to such silly nonsense; DROOY is up big today. Link to article.

Tuesday, January 06, 2004

This Street.com article, by James Altucher, recommends investing in Pan American Silver (NASDAQ PAAS) and Apex Silver Mines (AMEX: SIL) (see What Happens if I Die?).

He cites the usual rasons: (1) return to precious metals; (2) demand has outpaced production since 1990; (3) U.S. government since mid-2002 a buyer of gold instead of a seller.

* * *

Durban Roodepoort Deep did well enough yesterday in the stock market to merit its own article in Reuters (see S.African DRD shares soar on gold, overseas buys).

Monday, January 05, 2004

Wow! What a great day for gold and silver. Why is it soaring today? I have no idea. (See Mineweb: Gold's manic Monday.)

Sunday, January 04, 2004

The Year in Gold and Silver Investing

Was 2003 a great year for gold? Not if you were invested in Durban Roodepoort Deep (NASDAQ: DROOY). Durban started the year at $4.05 and ended it at $3.17, a painful decline of 22%. I wish I had sold my Durban way back when it was worth something.

However, it has been a great year for silver stocks. Pan American Silver (NASDAQ: PAAS) started the year at $7.84 and closed at $14.30, a very nice 82% gain. Coeur d'Alene Mines (NYSE: CDE) did even better, starting out at $1.97 and closing at $5.78, a whopping 193% gain. My regret here is that I didn't my more when it was cheap. Finally, Apex Silver Mines (AMEX: SIL) also had a good year, opening at $14.80 and closing at $20.90, a respectable gain of 41%.

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