Board-Ansicht
Mix-Ansicht- Tim Wood: Der Freitags-Gold-Blow-out hat die Minenwerte relativ wenig tangiert! - RK, 05.10.2003, 14:04
- Man kann ja mal hoffen: - Ecki1, 05.10.2003, 23:33
Tim Wood: Der Freitags-Gold-Blow-out hat die Minenwerte relativ wenig tangiert!
-->Gold blow-out hardly touches stocks
By: Tim Wood
Posted: 2003/10/03 Fri 18:00 EDT | © Mineweb 1997-2003
NEW YORK -- The gold price did its best imitation of a freefall around midday today yet global metal equities emerged unscathed by the close of trade in New York. Compared with a gold price of $388 per ounce on 30 September when the top 300 gold and silver stocks worldwide were worth $93.6 billion, today’s late afternoon gold price of $369 an ounce only saw a loss of $3.2 billion, or 4%.
Compare that with similar $20 per ounce declines in the gold price previously - from January to February, equities surrendered $5.1 billion off a much lower base of $74.8 billion. Between May and June last year, the market gave up $12.8 billion when the combined market cap was $62.6 billion and with gold falling by just $8 per ounce. By July that year, there were was virtual capitulation as another $10.5 billion vanished on a $13 per ounce decrease in the gold price.
Today’s sustained valuations signal some reassurance that the fall in the gold price should be temporary. Stocks led the gold price through late Summer with valuations peaking in August. However, the willingness to hold onto stocks today resulted in a new intraday record on Mineweb’s matchbox valuation - it would require 7,613 tonnes of gold to buy all the world’s listed gold and silver stocks. That is 1% higher than the August record.
That may also signal sell-offs to come, especially since Australasia missed the afternoon burnout, as did South Africa. However, most experts are calling the decline technical rather than fundamental so Monday’s trade restart may not be a bloodbath. That also means that it's not the value picking opportunity many have been looking for.
[img][/img] </img>
<ul> ~ http://www.mips1.net/mggold.nsf/Current/4225685F0043D1B285256DB40079C926</ul>
Thread gesperrtgesamter Thread:
