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Kinross Gold Corporation Message Board

  • INVESTidea INVESTidea Mar 23, 1999 3:12 PM Flag


    KGS 1998 annual report is available at;

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    • This makes a lot of sense:
      Question: Why does gold not seem to respond to news the way
      it used to? Answer: One can travel for many miles on
      interstate highways without actually seeing thousands of
      wildflowers that are growing by the side of the road. In
      order for gold to react to news, or more accurately, to
      seem to react to news, there has to be a critical mass
      of investors who have become disenchanted with the
      stock market and are seriously considering or have
      already put money into alternative investments such as
      gold and its shares. This critical mass must be alert
      to the price of gold and ready to buy or sell it on
      short notice. Since most investors today are convinced
      that the stock market is the place to be, very few
      people even have any idea what the price of gold is, or
      has been recently, and couldn't care less. Therefore,
      gold is unlikely to have a strong reaction to any
      particular news event. This has generally been the case
      during equity bull markets. In bear markets, or during
      periods of time when a significant percentage of
      investors believe that we may be in a bear market for
      equities, gold will react because investors will buy or
      sell the yellow metal and/or its shares with much more
      enthusiasm. Gold reacted most strongly to news from 1973
      through 1982; it is no coincidence that this coincided
      with the greatest bear market since the Depression.

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