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Gold/Mining/Energy : Gold and Silver Mining Stocks

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From: bull_dozer	2/15/2009 4:58:44 PM
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Zimbabwe abandons its currency (January 29, 2009) BBC southern Africa correspondent Peter Biles says the Zimbabwean dollar has become a laughing stock. A Z$100 trillion note was recently introduced. news.bbc.co.uk Paper gold market will crash at Comex (February 09, 2009) Oliver Disler:What about gold mining shares? Marc Gugerli: Good point! Have a look at industrial metals like nickel, zinc or crude oil. Some of them dropped more than 70% from last years peaks. The industrial metals mining companies share prices tumbled 50 to 70%. The price of Gold is trading only 10% below its highest level and as mentioned already reaching new highs calculated in many other currencies. But gold mining shares are still trading XX% below its peaks. I consider this to be a miss-pricing and a big buying opportunity. Due to lower price for energy, production costs are falling substantially and Gold price close to its highest level means that profitability of gold mining companies will increase substantially. The Philadelphia Gold Index (XAU) is trading at an attractive level and could double easily. From a historical valuation point of view and compared with the price of Gold the XAU is very cheap and my favorite investment 2009. commodityonline.com

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