Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: Ross who wrote (282)	12/21/1997 3:05:00 PM
From: Robert	Read Replies (2) of 3558

My prediction for ABX is that it has an absolute bottom around $20 Canadian. Barrick is well hedged, and my analysis of 'experts' opinion is that they are only right until they are wrong. There is no doubt that gold is a cyclical commodity which will go in and out of favor over periods of years. A number of factors are influencing the gold price at the moment: low inflation, a strong US dollar and weak demand in Asia, not to mention outrageous speculation that central banks are going to get rid of gold, particularly the Swiss, who blatantly extorted gold from the jews during and after WWII, and who are being forced through international opinion to liquidate some of their stolen reserves. Gold is a tarnished commodity for the Swiss, and a reminder to them that world opinion of them has changed. The bottom line is that you can't sell a commodity for long at prices below which it can be produced. Pretty soon SA will announce mine closures, and that will be the signal that gold has bottomed. I predict that Barrick will be at the forefront of any resurgence in gold, perhaps by the middle to end of 98. My advice is don't sell puts on Barrick unless you want to own the stock at $20-22. cheers, Robert

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