Global Mining Investing $69.95, 2 Volume e-Book Set. Buy here.
Author, Andrew Sheldon

Global Mining Investing is a reference eBook to teach investors how to think and act as investors with a underlying theme of managing risk. The book touches on a huge amount of content which heavily relies on knowledge that can only be obtained through experience...The text was engaging, as I knew the valuable outcome was to be a better thinker and investor.

While some books (such as Coulson’s An Insider’s Guide to the Mining Sector) focus on one particular commodity this book (Global Mining Investing) attempts (and does well) to cover all types of mining and commodities.

Global Mining Investing - see store

Click here for the Book Review Visit Mining Stocks

Download Table of Contents and Foreword

Monday, January 07, 2008

Gold looking for support

Gold is doing very well as expected despite weakness over the last few days. You can expect gold to fall back to $US840/oz, its highest support level. If you are worried about gold - dont be? Its true that a strong global (US) economy has been a positive for gold, but actually its under-performed other metals. During the following 'inflationary period' expect gold to out-perform. There are several reasons for this:
1. Gold is driven by speculative demand - not supply & demand. The reason is that most gold consumed is typically recycled because of its high value, and thus because there are so much gold inventory that any year's supply or demand becomes irrelevant.
2. Gold is a hedge against inflation because you dont hold gold to make a yield. It is precisely the poor yield on gold that has made it a poorer performer (against base metals) over the last decade.

The speculative demand for gold arises from several angles:
1. Gold is not priced so high compared to other tangible assets. So if there is a liquidity crunch, gold will perform better because assign from cash - everything is going down except gold. In that context, gold only goes down because ignorant speculators are selling a stronger gold security to cover positions elsewhere.
2. Gold is a tangible asset so its price will generally rise (due to inflation) along with other commodities, real estate. But there will need to be a demand-related shake out of those markets first, and that is already happening.
3. Gold is more attractive if yields are falling. With other asset classes priced so high, the yield on all asset classes is looking a little thin. If there is little yield from all asset classes, then the small yield (gold lease rates) on gold looks good. For this reason, as the Fed responds to the weakest US job figures in a long time by reducing interest rates, expect gold to perform well.

For all these reasons one can expect the gold price to fall on short term profit-taking, but there is still alot of latent speculative demand for gold that will support it on weakness.
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Global Mining Investing $69.95, 2 Volume e-Book Set.
Author, Andrew Sheldon

Global Mining Investing is a reference eBook to teach investors how to think and act as investors with a underlying theme of managing risk. The book touches on a huge amount of content which heavily relies on knowledge that can only be obtained through experience...The text was engaging, as I knew the valuable outcome was to be a better thinker and investor.

While some books (such as Coulson’s An Insider’s Guide to the Mining Sector) focus on one particular commodity this book (Global Mining Investing) attempts (and does well) to cover all types of mining and commodities.

Global Mining Investing - see store

Click here for the Book Review Visit Mining Stocks

Download Table of Contents and Foreword

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Download Table of Contents here.