This is just a correction and when there is one every basher jumps out of the woodwork and calls an end to the rise in gold. Likewise when gold starts to move up all these pumpers jump on the band wagon and start pumping. The only people that will listen to pumpers and bashers are new investors who haven't been around for a long time in the gold market. But either bashing or pumping won't change the move of the stock - the only thing it will accomplish is 1. piss people off on the forums 2. effect new investors to lose money which won't do a thing for a stock price in general. It get's tiring putting all these idiots on ignore.
Anyone that's new to gold market and I mean less then 8 months, do some research and see how volatile gold is. Look at 70s gold chart and you will see gold drops of $100 and than wild rides up. Know why gold moves up and why it moves down and try to learn when we might be in the peak of the cycle or the bottom. No one is 100% BUT whatever you do DON'T listen to bashers or pumpers.
Serious long investors don't care about daily, or weekly drop. Monthly drops might get frustrating but if you buy a stock for long term you are looking as an investment year 2 or 3 from now.
As for traders, we love this volatility since that's how we make our money. Now is the time to accumulate but there might be another 10-20 drop in POG as well always have some cash on hand since you never know when there might be a great deal waiting to be scooped up.
Bravo, RETICIIZ! What a pitiful thing, to have to endure these idjit naysayers every time gold, the commodity, fluctuates downward. As a professional trader, I am fully aware of the repeated opportunities on every pullback. My biggest gains over the years have been on QUALITY mining stocks, accumulated on the dips. And the POG can only work higher if for no other reason that it is well behind it's historic (since biblical times) relationship to items valued on an inflation-adjusted basis. In 1975 a postage stamp was .07 cents (I am Canadian,understand) Today it is 49 cents plus tax. Gold was $100/oz, and a new standard model car was $4000. Today the car is seven times '75 values as well. Simply put, it would not at all surprise me to see gold at $700 in the next year or two. Check with me at that time, when I would wager that QUALITY resource issues like Ivanhoe, NovaGold, Northern Dynasty, and Goldcorp will all reflect the surge in a dramatic fashion. Everest
"In 1975 a postage stamp was .07 cents (I am Canadian,understand) Today it is 49 cents plus tax."
The price of a postage stamp is increased at the dictates of the government, not by market forces ... hardly a compatable example, lol ...
"Gold was $100/oz"
No ... gold opened 1975 at US $180 and closed at US $140 ... it touched close to US $100 around Sept/76 and then started its rise ... "$100 gold" was not the norm at the time anymore that "$800 gold" was the norm 5 years later ... (did you know that gold was +$800 for a period of less than 24 hours, yet everybody talks like that was the normal price ...)
"a new standard model car was $4000"
Yep ... and a VCR cost $800 and now you can pick them up for under $100 ...
"And the POG can only work higher if for no other reason that it is well behind it's historic (since biblical times) relationship to items valued on an inflation-adjusted basis."
Possibly, if we go back to living in caves ... and in that case, I would prefer 2 chickens and a rooster to a gold bar, lol ... in the interim, gold is an international commodity, and like other international commodities like coffee beans, French Wines and hotel room rates in Florida, its price will reflect the simple market forces of supply and demand ...
Hi, I know wrong board, but Ivanhoe doesn't have a board. Could you tell me the story on this company? No operational mines but lots of leased properties in various parts of the world. What makes it a quality investment, management, the properties, or both?