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Politics : Ask Michael Burke
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To: valueminded who wrote (26293)3/1/1998 10:33:00 AM
From: Mike M2  Read Replies (1) of 132070
 
Chris, I have never owned gold or mining shares. I read the gold-eagle site for the commentary about the financial mkts. If you believe the financial markets are unsound gold is one alternative. We have all seen that trends can be much greater in duration and magnitude than most expect so until gold comes to life (maybe mid year? -I really don't know) I will avoid. I am not sure of Kutyn's position on physical vs. the shares. The people who want to own only the physical are preparing for a worse case scenario.I have not done my homework on the mining shares so i will refer you to the SI gold monitor thread or the gold-xau thread -there are others as well. I can make some general comments many companies that hedged did not go very far out and in retrospect made a great call. They have cash to buy weaker mines. Forward sales limits their upside potential when the physical rises in price but I think many of these sales are winding down. Barrick gold is the blue chip gold miner that you would likely find in most gold mutual funds and if/when the herd decides that they must own gold shares ABX will be at the top of their list. There are many good gold mutual funds which can make life simple. South African shares have more political risk but perhaps more upside. This is not a commentary on the probability of trouble but it is more likely that a south African mine would be nationalized than a North American mine. There are many knowledgeable people on the gold threads so see what they have to say. Mike
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