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Non-Tech : Bill Wexler's Trading Cabana

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To: Dale Baker who wrote (4602)12/3/2008 9:29:03 AM
From: Kevin Podsiadlik  Read Replies (1) of 6370
 
What is wrong with this picture? Haven't metals, especially gold, been pitched endlessly to us as a natural hedge against bad economic times? And yet when metal prices tumble, what are we told? It's due to the bad economy.

How is it that miners are going broke with gold around $800/oz?

Yes, FCX is more a copper company than gold and copper is totally in the toilet right now, but you'd think that the gold part would at least be useful as a fallback. And how in the world is Yamana not coining money right now?

And what cheeses me is that even today we get pitches like this one declaring that gold and silver will yet lead us to the promised land. Are you looking at the same market I'm looking at, Mr. Wiegand?
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