joe gold

Is it Finally Time to Sell Gold and Related Mining Stocks?

I have to agree with all the bull sentiment.
Central banks in Asia and the Middle East are sitting on uncomprehensible quantities of USD's and it would be prudent on their part to load up on the metal in this pullback trying to avoid the sinking ship of the USD. With their multiples, every ten-thousandth of a point loss in dollar value has real value consequences on their side.
I do have to admit that my stock positions with mining companies has dissapointed me over this push. I vaguely remember Newmont rising to over $70 a couple of years ago while gold was breaking new ground at $550. Now we just had $1,000+ and it sat there at under $50.
I've heard a lot of people mention rising production costs but its not nearly as high as is being talk about. My impression is that the gold producers are clearing the deck for higher prices to come, and in the comming quarters results will begin to hit the P&L's.

I'm sticking to my instincts on this one.

order to diversify.