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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 443.45

+1.4%

Jan 21 4:00 PM EST

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To: Rocket Red who wrote (1229)	1/28/2004 9:06:49 PM
From: Andrew	Read Replies (2) of 29622

exactly. We are not in a buy and hold market here with these valuations. With gold producers however standard valuation by PE doesn't really make sense because they are also valued by the value of reserves and future earnings. The Golds as a group still have a PE similar to the SP500 and lower than the NASDAQ 100. Minable reserves increase with an increasing Gold price. The market is forward looking. Which way is Gold going 6 months or a year from now? Even so the markets are not always rational. The most overvalued are the explorers IMO.

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