Mining stocks are a good buy, but jeez, get over the gold obsession! <gggg> Take a look at nickel, zinc, aluminum, anything but gold! I work in the prospecting business and last week I attended a talk by the president of the Prospectors and Developers Association of Canada where he said he expects gold to decline to $200/oz and stay there for years. He said every decade there's a fad in the mining sector. In the 70s it was molybdenum, in the 80s it was uranium, and in the 90s it was gold. Those commodities have all had their day in the sun for historical reasons and they're never coming back to what they were at their peak. My company is adjusting to the fact that the opportunities now lie elsewhere in the mining sector, not with gold. Nickel is rushing towards new highs, and zinc is starting a solid turnaround. Aluminum has been doing well lately. Check Alcoa's chart.
<g> and I don't wanna hear gold is a hedge against inflation, or that the price is manipulated. It's supply and demand, like any commodity. <g>
I'm guess I'm going out on a limb here... But do your own research into production, consumption, and current storage levels of gold vs. other commodities and see what you think.
Fun-da-Mental |
