Down 32% from its high. Gold will probably take a litlte more beating up to the U.S. election and as institutions exit. Most of the selling pressure looks gone though...so now it's a question of the technicals on the gold price...and how the stocks track it. NEM is still a little pricey, but a five year chart shows it has declined to the uptrend line. Long-term MAs look to have rolled over to the downside...and that's the risk here, that gold's run as an asset class is done. I disagree and think this is a great price to pick up one of the world's largest gold companies when everyone is kicking dirt in gold's face. You don't read any good stories about gold in the press, and no one can seem to find a reason to buy it. It's not exactly hated. But it ain't feeling much love either. Just the way I like 'em.
$41.09 (10/12/06)
