gold stx overbought

  1. 47,086 Posts.
    North American investors ignore gold stock warnings


    Monday, October 27, 2003
    NORTH American gold stocks rose sharply last Friday as the gold price surged through the US$390 mark and despite warnings that most were already over-priced.

    The AMEX "gold bugs" index hit a record high of 220.88, along with gold indices on the Philadelphia and Toronto stock exchanges.

    Prudential Equity warned investors that the price of Canada's Barrick Gold and Placer Dome were already assuming a gold price of between US$525 and 6$25 an ounce – a measure of how far the equity market has run ahead of the commodity price.

    Newmont and Goldcorp were said by Prudential to be factoring in an even higher gold price.


    I reckon much the same has happened here too. I can't find value in gold stx ATM.
 
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