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IAMGOLD Corp. Message Board

  • amigaguy Aug 29, 2013 10:32 AM Flag

    Anyone want to speculate why miners are getting hammered with gold up lately?

    Look at NUGT chart, there is a disconnect with gold prices. Is it fears of Obama starting WW3?

    Sentiment: Hold

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    • Gold stocks follow gold, but it cannot be traced 100% for every day and, especially, every minute of trading. Sometimes, gold price goes ahead of stocks and, sometimes, stocks go ahead of gold. It is fluid, normal market situation.

      Regarding oil-gold link, it exists, but it is not absolute. Some miners have significant part of their costs linked to oil price. By the way, it is not true for IAG; all mines are connected to power grid and most of electricity comes from hydro installations. Anyway, oil part of cost, even if sizable, cannot have the same influence as revenue (gold price).

      The bottom line is following. When gold has strong day, it is very good for a gold stock, even if stock price didn’t move on that particular day. Strong gold price means better earnings and it will transpire to stock performance anyway, now or later.

    • mekop Sep 3, 2013 2:53 PM Flag

      Gold way up and IAG down. SAD!

    • Perhaps it's because oil has been heading up just as fast as gold. Better to own the stuff that's already out the ground under those conditions....

    • agree - profit taking, hedge fund shorting. you know whatever comes up fast will come down. if today is stabilization day then tue may be interesting.

      Sentiment: Buy

    • Just profit taking and technical traders trading the chart. A good opportunity to load up once again for another run if you have the funds. Unfortunately I jumped back in at the wrong time. Oh well.. This is a long term hold for me so not too worried.

    • obama is gonna start ww4...

      • 1 Reply to truong_lee604
      • it has been interesting..this is the first day that the metal has been down and the miners have been crushed for 3 days after the reversal of 3 days ago. Iag down from 7.07 to 5.86 in 3 days with gold pretty much up or unchanged over the last 3 days...all other miners same way too although IAG move even more pronounced.So Iag down 17% in 3 days with Gld still holding around 1400 ...we should see a reversal with gld maybe down and gdx up soon

1.57+0.04(+2.61%)Sep 4 4:01 PMEDT