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IAMGOLD Corp. Message Board

  • no_need_no_stinkin_badges no_need_no_stinkin_badges Apr 11, 2013 5:25 PM Flag

    Soon below $6

    IAG falling into the $5's and we have not even hit lowest gold price under 1500.
    IAG now could fall to $4.
    How low is the bottom?

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    • amigaguy Apr 11, 2013 8:18 PM Flag

      Gold might flirt with the $1,300s which will cause panic in IAG. I like buying panics and will wait for the panic.

      Sentiment: Strong Buy

      • 1 Reply to amigaguy
      • no_need_no_stinkin_badges no_need_no_stinkin_badges Apr 12, 2013 2:09 PM Flag

        I previously thought that 1420 might be the low for gold.
        But now I think the bottom could be 1150-1250.
        That means another 25% drop for gold prices to a bottom.
        Mining shares will fare worse.
        25% lower for IAG puts it at about 4.38.
        I would call that 4; but hey maybe 3.75.
        Never thought I would see that.
        But today, I sold a gold mutual fund I have been in for 12 years. It has been a good proxy for gold prices, but actually doing worse with miners doing worse. Long term, I might dollar cost average back in to fund- but probably after waiting 2 more years for gold to make a solid bottom. I saw no point in losing 25% more, when I can do better with the money elsewhere in the market. I would prefer individual stock picking to gold fund averages.

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