Arrived, Spot Gold update and predictions

Posted on December 15, 2005 , filed under Stocks | Print This Post

I just arrived a few minutes ago and I am updating Raw Greed remotely. Gold is currently trading at $506.

Gold traded as low as $499.50 early this morning. Currently the stocks on my gold watchlist haven’t been as negatively affected as I predicted. I believe this shows strong speculation by the market that gold will rebound. I purchased 2000 shares of BGO, Bema Gold Corporation at $2.80 on December 13th, 2005. Many gold metal investors will look at the pullback as a buying opportunity. If gold continues to trade at low $500’s tomorrow, I believe gold stocks should adjust to reflect the drop in price. With gold staying at low $500’s, I predicted BGO might drop below $2.50. If BGO trades below $2.50 this week I will add shares to my position.

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