Kinross is in the mining business not the 'federal reserve' business. The currencies will go up and down as chairmen try to keep the whole thing floating. Bernanke has to convince everyone that his debt is managible and that he can take on more debt without lowering rates and devaluing the dollar.
Look at the current debt level! Does anyone think Ben has curtailed the spending of the US federal government. No way not when a 7 year war has been escallated by the great 'surge'. War spending isn't going down its going up. Surpluses aren't going down they are going up. Trade inbalace isn't going down its going up. Oil is going up because the dollar is going down and global consumption is going up.
Look at the CRB index...its not just oil that is rising! Commodities in general are rising rapidly because of the US federal debt problem. In order for Ben to finance the mess he has to weaken the dollar and he will have to print more money if he doesn't cut rates.....gold goes up as US dollars are printed because gold is priced in US dollars.
Basher? I have been in this game since 99. I started with nem @ 18 picked up bgo / a bunch of oil ect... I have made many mistakes and missed many moves simple because I wasn't watching --- I sold to early bought too late and EVERY SUMMER THAT I DIDN'T SELL I TOOK A HIT when I could have picked up more at a lower price.
Everyone is still to POSITIVE on Gold for it to make a move back up and reality strikes the big boys are on vacation.
So go sip your mixed drink and relax.
15 is not a sure thing of a bottom it is just the area that I am back in..... trying to help some of you realize that this follows trends big time and if you are patience and wait there has always been great buying opportunities. 18 is safe and I did buy at 18 and was out shortly after it shot back up. From my experience I stand looking at 15 as a nice round number ...
Good For You. I can't wait to buy more KGC at this price of $18.50. You may be right and KGC may go lower, but then again it may not. I will buy 1/2 of the KGC stock that I wish to own now and buy more later at a lower price if KGC goes down more.