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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.81+0.9%Nov 19 4:00 PM EST
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To: lorne who wrote (48806)2/10/2000 11:09:00 PM
From: Rarebird  Read Replies (4) of 116762
 
Now the Gold Mining Industry has to convince investors to take a long position in their company. That won't as easy as closing out a forward sale.
Today's action in the the XAU should finally open up some eyes to the reality that most investors couldn't care less about Gold Mining Stocks. Oh, I know investors and traders will care when their beloved tech stocks get crushed big time and the dollar goes into a free fall. But that time is not here yet.
Many people here have spoken of Gold as a perceived value. Value is something that is created by humans and imposed on the marketplace and universe. Stocks such as Puma could sell at a PE of 1000 because many Market Participants who own Palm Pilots love their Web Browser.Thus, Puma's share price gets richly rewarded for the great value it brings to Palm Computing. The same can be said for Yahoo and its great Instant Messenger for the Palm. Take Adobe Systems now: the company reported 4 days ago that it was making its Acrobat Reader available to the Palm OS. The stock has been on a tear since.
Gold has to compete with these great innovations in the Information Age.
I could go on and on here but the fact of the matter is that Gold cannot compete just yet. But Gold Mining Stocks will have their day in the sun.
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