Precious and Base Metal Investing Message Board

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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Canuck Dave who wrote (14859)	7/27/2003 4:23:53 PM
From: orkrious	Read Replies (1) of 39344

With the SA strike settled, gold will probably drop the next few days. I have nothing to base this on, other than a hunch, but I'll be surprised if PoG dips much, other than early tomorrow. The gold stocks have been stronger than PoG for a couple of months, and the stocks usually lead the metal. I doubt that the stocks have been holding their own for two months solely due to SA. SA strikes are rare. I believe the last was 16 years ago and the contracts are biannual. Like the auto talks here, there is a lot of posturing, then things settle at the last minute. I don't think most people have been buying gold stocks in anticipation of a strike. On the other hand, I suspect the strike is a major factor people have been shunning the SA miners. I think PoG holds its own tomorrow and my gold portfolio is positive, with my SA miners making up for any north american losses. Just my WAG <g> [edit] I think the PoS lends support to my argument. Silver certainly hasn't been rising on SA woes, and with political and montetary concerns, they should move up together.

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