Forum Archive Index - December 2003

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Allan,
> 
> Dear Snoopy,
> 
> I don't doubt that your numbers are correct, but they are rather
> selective and in any event don't aply to anything I'm doing.
> 
> I took earlier profits in gold and didn't start reacquiring gold
> equities until Sept. 26th 2003.  That position is currently up 27.27%
> in just over two months.  Another position was put on Oct. 7th and is
> currently up 26.21%.
> 
> I don't have anything else in my portfolio that has done as well,
> factoring in both currency and price appreciation. 
>

Ah so you have gold *shares*.   That is different to having gold itself.   
What price have your gold producers hedged their gold sales at?
For how long?   And what is the cost of production in home currency?
What are their documented  reserves?

You don't have to answer these questions.   But the point I am making 
Allan is that the answers to these questions will probably explain why 
your gold shares have done so well.    The fact that gold just jumped to 
more than $US400 is notable, but is not the main reason your 'gold' 
has done well  (as implied by your original post).

SNOOPY



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