[QUOTE=Skol;366325]Yeah, up 56% in 2 years, a very clear signal it's grossly overpriced.
Thats what you said in post no.1
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[QUOTE=Skol;366325]Yeah, up 56% in 2 years, a very clear signal it's grossly overpriced.
Thats what you said in post no.1
well lucky I soon changed my mind once the numbers started to add up to a very high cost of extraction an sold all of my NAV at no less than 18.5c(paid 12-13c) much of those funds have been invested in the likes of CCU.PXGOA,CVR end of the day I've been bullish on Gold/silver prices since 2003 have made some very good gains on the likes of- IAU,NAV,DIO,MMN,AYN,IRN,OGC,SVL,ARD to name a few
Unlike yourself I can change my view of an investment if it changes track...your've been wrong for many years an will continue to be for a few yet.... one day in the future I will agree with you that Gold/silver is overvalued an time to sell down positions ...
If there was some way of valuing gold I might have been tempted, but there isn't, it's only worth what someone is willing to pay for it.
It's not investment, it's speculation.
A used car is easier to value than gold, and car dealers are a lot more respectable than the 'psychics' who peddle gold ingots and tell us all how much it's going to go up.
I fail to see the logic in your argument Skol. Gold is valued by the market, that valuation changes, and it's a lot more complex than a used car, which only has a localised, not global, value. Gold's up again overnight, and guess which way the world market feels about the relative value of the US$ ?
Well if that's the case EZ tell me how come all the gold indexes are down for months on end but gold is up, the XGD being an excellent example, but more than happy to provide more evidence if required.
I've been trying to get to the bottom of that one for months.
Either gold or gold shares are badly mispriced.
Gold shares are badly underpriced IMHO just look at the margin producers are working with today... when I first looking into gold producers GOLD was round $400-$500oz costs 100-200per oz etc on average... now you have many producers with costs round $500-$700
with gold at 1700 ---300 to now 1100 average margin's etc per oz ...unless gold collapses(unlikely) Many Gold producers cash balances will grow massively an in turn payouts ..also when you look back at the old takeover prices to gold resources today Gold resource values are very low PXG etc
Yep, I agree with that JB and Skol. Look at OGC, quite a stable mining situation, (costs have gone up) but gross profits from one quarter were $50mill, and soon they'll be even better. less need for funding from shareholders, rapidly increasing cash balances, and yet at the moment OGC fails to track the gold price like it should. It has drifted down against gold for months on end. Can't see this staying like that, and we'll all know when the goldies hit their straps, it'll be easy money then.
I think there is a basic underlying fear of the share market in general these days --If that sentiment changes, these undervalued companies will soar, but ATM its a big if -IMO