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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 457.82

+1.3%

Jan 23 4:00 PM EST

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To: bigbuk who wrote (901)	12/2/2003 11:19:57 AM
From: Andrew	Read Replies (2) of 29622

My concern is that the golds stocks are tracking the rest of the market. I'm only selling majors and most liquid juniors though as I think this is far from over. Fund managers say they are having a hard time finding value. I agree. AGE.TO is value here but would IMO come down with the rest. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Placer Dome Inc (C-PDG) - In the News Globe says Placer, others enjoy gold at over $400 Placer Dome Inc PDG Shares issued 409,684,392 Dec 1 2003 close $ 24.30 Tuesday December 2 2003 In the News The Globe and Mail reports in its Tuesday edition that gold has closed above $400 an ounce in New York for the first time in nearly eight years, adding momentum to bullion's steady climb and vindication for those who have long been predicting its comeback. The Globe's Wendy Stueck writes that Sprott Asset Management president John Embry says: "Suddenly the world is waking up to the fact that the only currency that can't be debased is gold. You've got investment demand coming back into the market when there is already a gap between demand and production." Although gold has traded above the $400 mark several times in recent weeks, Monday's close on the Comex division of the New York Mercantile Exchange was the first above $400 since February, 1996, and for some, served as proof that gold is in a new bull market. Improved gold prices have already contributed to a surge in financings in the sector and prompted re-evaluation of some projects that had been mothballed as a result of poor market conditions. Placer Dome, for example, recently said it is updating the feasibility study for its Cerro Casale project in Chile, which was on hold. Fund managers say it is tougher to find fairly priced equities. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com

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