Post by
prested on Aug 15, 2008 1:02pm
Sector sell-off
I don't think it's fair to criticize management for the drop in SP. Since it is universal among all gold producers and reflects the drop in gold prices. I own the ETF and believe me it is also down big time.
If one believes, as I and others do, that gold prices are being manipulated down to save the US dollar from falling; and if you believe that this will eventually correct when it become painfully obviousn the the $US is overvalued, then one grins and bares it until sanity returns and gold goes back to its inevitable level of $1,000+/-
This is a good company, run by very talented and highly respected people. If anything this is an excellent opportunity to add to ones position, although I would never advocate having any more than 5% of ones total investments in any stock, however good one may think it is.