RE:VALUATIONAnd after another $38.00 move up in gold price today the market does a big YAWN! Not yet convinced the Fed will lower rates and are cautious that the usual pullback will occur. Even the big guys can't break out today...Barrick down, Kinross down, etc. Funds managers still telling clients they shouldn't have anymore than 5% gold exposure in their accounts (with WW3 at their doorstep).
Apparently a $2200 gold price and margins of $500 to $800 per ounce for most producers isn't enough to get the masses moving to gold. Quite amazing really.
The only people making money today are the Hedge Funds, Day Traders, and MVargas who sold out in December, waited his 30 days to avoid the superficial loss rule, bought back his shares at low $5's and can now day trade this thing as it slowly crawls back up to a more respectable share price.
The recent little run up in VG share price is nice, but wake me up when VG is back at atleast $14.
And Kegman, I wish I was John or Tara, so I could be drawing their salaries and own nearly 900K of VG.
HB77