I pity the fools who hate Gold
Posted September 2nd, 2008 by Ted Gottsegen
Let the Bears run on Gold, all it does is make gold lovers like Mr. T mad. Yamana (NYSE:AUY) and other gold stocks are taking a beating today, the question is, for how long?
Yamana Gold Inc. (NYSE:AUY) is going to test the $10 level today, as commodity prices are getting hit hard in early morning trading. Gold is going to have to battle hard to remain above the psychologically important $800 price level.
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Just look at these stocks in the Red:
| Name | Name | Exchange | Symbol | Last Trade | Change | Mkt Cap | |
| Yamana Gold Inc. | Yamana Gold Inc. | TSE | YRI | 10.84 | * | -0.69 (-5.98%) | 7.56B |
| Yamana Gold Inc. | Yamana Gold Inc. | LON | YAU | 557.00 | * | -8.00 (-1.42%) | - |
| Goldcorp Inc. (USA) | Goldcorp Inc. (USA) | NYSE | GG | 31.76 | -2.17 (-6.40%) | 22.61B | |
| Kinross Gold Corporation (USA) | Kinross Gold Corporation (USA) | NYSE | KGC | 15.07 | -1.38 (-8.39%) | 9.26B | |
| Central Sun Mining Inc. | Central Sun Mining Inc. | AMEX | SMC | 0.680 | * | 0.000 (0.00%) | 41.58M |
| Barrick Gold Corporation (USA) | Barrick Gold Corporation (USA) | NYSE | ABX | 33.14 | -1.59 (-4.58%) | 28.86B | |
| Paramount Gold and Silver Corp. | Paramount Gold and Silver Corp. | AMEX | PZG | 0.990 | * | -0.070 (-6.60%) | 47.81M |
| Pacific Rim Mining Corp. (USA) | Pacific Rim Mining Corp. (USA) | AMEX | PMU | 0.280 | * | 0.000 (0.00%) | 32.74M |
| Kimber Resources, Inc. | Kimber Resources, Inc. | AMEX | KBX | 1.18 | * | -0.01 (-0.84%) | 68.29M |
| Agnico-Eagle Mines Limited (USA) | Agnico-Eagle Mines Limited (USA) | NYSE | AEM | 53.53 | -3.71 (-6.48%) | 7.70B |
Gold and Coal are getting beat with an ugly stick thanks to the massive commodities sell-off today.
Fellow Masters, put a shopping list of the best gold stocks, because when the market shitcans next week, Gold will snap back. It always does.
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