Gold producers are climbing from 28-year lows relative to gold prices as the companies begin to tighten their operating constraints and generate more cash flow. Analysts are optimistic about upcoming reports from Barrick Gold and Newmont Mining after stellar quarters from Yamana Gold, Goldcorp and Agnico-Eagle Mines.
M M We posted this in Sept 2009 Soros has accumulated futures contracts for approximately fifty-five million ounces of Gold and Palladium—8% of the global supply at this time. But rather than selling the contracts to turn a profit, as most commodity traders do, the Soros has every intention of taking delivery of his Gold and Palladium —and the does not intend to keep it in the U.S. either The communist Soros, who is a member of the Bilderberg Group, believes another government confiscation is on the horizon, and since the feds had already taken GM and the banks Gold will be be next. Thus, Soros has chartered Five Jumbo jets from New York—in the dead of night, he plans to load them with forty million ounces of Gold and Palladium to be whisked away to South America for safekeeping. The remaining fifteen million ounces are headed to Switzerland, but Soros will assume no greater risk
Sentiment: Strong Buy
On June the 7, GLD@154
today GLD@167- Well Done!
Gold (GLD) and silver (SLV) offer great appeal for their multi-faceted defensive characteristics, as they provide crisis protection to the downside as well as protection against inflation and seemingly endless money printing to the upside.
I prefer to hold exposure to these precious metals via the Central Fund of Canada (CEF) and the Central Gold Trust (GTU).