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Gold Mining Stocks

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Bought into SLR @ 1.07 today and TRY @ 1.9 yesterday. Gold will inevitably continue to rally imo, the dip was just a combination of classic fear mongering and Syria being their wretched selves. Holding for the long term.
 
One for the gold bugs....

Jewelry Demand May Revive Gold, Mining Stocks: Chart of the Day
2013-05-01 04:00:01.1 GMT
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There is no compelling evidence to suggest that it is the correct time to make an entry.
Of course that doesn't mean you should go one way or another...

CAUTION!

Have a read of this thread over the last few months if you want to see what I mean - it has been a "good time to buy" in this falling market for a while apparently, but the hammering that has been dished out has been partly fair due to reversals in gold price. Although small miners have been hammered more than other sectors, that does not suggest that there should be a reversal for that reason either.

So there are the 2 main factors you would be hoping to change majorly over the short term in making an entry. At this stage they are not looking like changing significantly.
Perhaps there is something over the horizon, but that is not the best way to treat money that is hard to get and harder to grow.
 
OGC making headway. SBM. Might be time to take a look again, also at resources generally. But it feels like selectivity will be extremely important.
 
Gringotts Bank said:
OGC making headway. SBM. Might be time to take a look again, also at resources generally. But it feels like selectivity will be extremely important.
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Lol, I took a gold trade just after the first POG fall too U$1320/oz - SLR, OGC, PRU and SAR. My thinking at the time was that it was a concerted attack on paper gold, with resultant flow on effect gold stocks, so it should be money for jam. Bought all four at below book.

But I was way too early in catching this falling knife. SLR, in particular, has been belted around.

The overnight jobless claim numbers means that the USD POG should benefit as high US unemployment means QE remains longer.

The falling AUD vs the USD should also give Aussie producers a kicker.

The final penny to drop will be the miners finally having some leverage over employees and suppliers re rampant cost inflation.

So thinks are starting to play out well for Aussie gold miners.
 
Bushman said:
The falling AUD vs the USD should also give Aussie producers a kicker
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In AUD the current old price is only 2.5% below its price in April just before the big take down.
Meanwhile Gold Mining shares are still down much more than that. For example NCM is still 26% below its April price just before the gold price plunge.
So its looking more and more like the Gold Miners are way oversold.
 

Hi SC,

Did you catch the NCM knife? Currently trading at $14.35...

Cheers
 
odds-on said:
Hi SC,

Did you catch the NCM knife? Currently trading at $14.35...

Cheers
Click to expand...

I've been on holidays...NCM now #1 on my buy list, but of course i don't have any spare cash, spent all my money on Filipino real estate.
 
The gold price has been hammered hard in 2013, and so have gold miners. The big question is, which companies can weather the storm if the price of gold declines further, and which ones may find themselves in trouble?

I like Troy Resources (TRY) because of their low cost of production and their impending takeover of Azimuth Resources (AZH). Azimuth has a lot of prospective tenements in Guyana as well as 1.65Moz in the ground at its flagship West Omai project, with more drilling underway.

I also think Newcrest Mining (NCM) has finally moved into oversold territory if you are looking long term, just on the basis of it's reserves.

What companies have high production costs and may run into trouble should the price of gold decline further?
 
A few charts on how the ASX gold stocks have been performing since the start of 2013.

A base 100 chart of the gold stocks in the ASX200:



and in percentage terms:


a closer look at some:
 
Has anyone been buying gold miners? I haven't been doing any buying or selling for a few weeks now. I was short until Monday because I've been too caught up in other things. I sat down yesterday and wondered what to buy and MML popped up. I bought some at 2.19. The bloody stock went up 7% while I was thinking about it. Although a close above 2.40 probably would be a better signal to buy this stock looks like it is on a recovery. Just how much it recovers depends on what progress management make with the mine expansion. Management have consistently missed production targets over the past couple of years.

Anyone else buying gold miners? Which ones?
 
I think it is also about gold price turn around and value. The AUD follows the gold price.

Bought some SLR yesterday.

So, no one buying gold mining stocks? Interesting.
 
tinhat said:
I think it is also about gold price turn around and value. The AUD follows the gold price.

Bought some SLR yesterday.

So, no one buying gold mining stocks? Interesting.
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I have been buying Gold and Silver mining stocks tinhat but started some months ago, and got cut with a few falling knives on the way down. 75% of my portfolio would be in this sector if you include physical bullion holdings.

I started purchasing around the $1400 POG AUD mark, so there was a time when I was suffering quite a bit of pain, and questioning my early entries, but a couple of averaging downs, and a few months later, things are looking better.

Would like to think that the bottom for POG is in, but as we all know September/October can be volatile months for any markets, and a test of the previous recent lows would not surprise.

Either way, I am an investor with a medium timeframe, and looking for some large ROI's in the coming years.
 
tinhat said:
I think it is also about gold price turn around and value. The AUD follows the gold price.

Bought some SLR yesterday.

So, no one buying gold mining stocks? Interesting.
Click to expand...

Last 2 weeks everyone was a buyer all of a sudden
The move is strong and has come off recent lows so may carry for a while.

PRU / EVR / PIR are what I bought.

PRU showing a nice move, EVR has to break 90c before I will consider getting excited.

Others to look at: RIM, IDC, SAR, BDR.
 

Thanks Mr Jeff. I've only gone long in the past three trading days as I was short in the market for a while there and have been too distracted by life to get back in until now so am making entries with stop-losses now as this week is probably the only week I'll have for a while to keep a close eye on things. Thanks for the watch list.
 
Gold stocks still the most likely to move going forward, imo. I think they have another leg or two to go, but will happen more slowly this time.
 
Is now the good timing to buy Gold Mining stocks? How do you think of Gold price trends? I feel as a result of Gold price fall, gold stocks have been bearish for quite long, there is the remarkable bottom pattern of them, but I am still in worry of fall of Gold not end yet.
 
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