GREY:GRFJF - Post by User
Comment by
Orwellon Oct 07, 2008 11:32pm
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Post# 15512422
RE: News 3rd QT Production
RE: News 3rd QT ProductionI've continued to hold my core position of WGI. It is the only producer I now own. I did sell my trading position of WGI in the $1.60s recently, but of course bought back today in the $1.20s. Another BUYING OPPORTUNITY, WOW!
Based on supply demand and U.S. dollar inflation, the floor for gold should be around $750, and the floor for oil should be around $80. $750 gold is still OK for WGI, and of course $850-900 is amazing for WGI.
I'm not planning to sell any of my core position until the $3.50 - $4.00 range is achieved.
I believe energy and gold are still about the only two places to be in this market.
We still need to heat our homes in the winter, produce electricity, and we won't have our society weened off of oil for another 10+ years.
And of course everyone around the world should own some gold. U.S. dollar will get to be overbought soon.
The only true money in the world is gold.
O.