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Gold/Mining/Energy : Barrick Gold (ABX)
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To: xdll who wrote (233)12/11/1997 12:45:00 PM
From: Tommaso  Read Replies (1) of 3558
 
I guess it depends on what price you bought it at. It was at$30 a year ago and so that seems a reasonable level for ABX with gold at $380 or so an ounce--whatever it was. I do not know how to arrive at an exact figure for the price of ABX in relation to the price of gold. I used to try to work such things out, but some other factor would always intervene. But if it seems resonable that the stock could double with the price of gold going up about 40%, then the stock is a better holding than the metal. Should gold go to $500 and hold there for 3-4 years as inflation takes hold, the stock could go much higher.

But the possibility of a 100% gain in two years or less on a stock is a pretty good return--if it works out. Especially if this should occur in the context of a bear market in other stocks. All speculative--but what isn't?

In any case, I recently bought some ABX and have a loss on it but have no intention of selling soon.
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