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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)
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To: t2 who wrote (483)5/1/2002 8:29:19 PM
From: Dave   of 587
 
In the medium term (the next few years), I think gold is a good opportunity. But frankly, in the short term (weeks), I don't know that I would buy any gold stocks right now. They have been shooting skyward for a while. I would wait for an inevitable correction before buying. But what do I know? The only gold stock I have is NEM. I used to own a mutual fund called BGEIX, which mirrors the XAU index, but I sold it to take some fairly healthy profits. What with the appreciation in BGEIX and in NEM, gold had become too large of my portfolio. On the other hand BGEIX has been going straight up since then, so don't listen to me as far as short-term movement goes.

I chose NEM because they were completely unhedged. Now I'm just holding onto it and selling a little now and then so it doesn't become more than about 10% of my portfolio.

I suppose it depends on why you want to own gold. Are you just trying to protect part of your IRA against a worldwide financial catastrophe, or do you want to speculate on gold price movements?

Dave
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