Eldorado Gold is now my number 1 play on rising gold prices. It's one of the cheapest gold producers in the world, and a very well run company. They recently purchased Sino Gold, another low cost producer mining in China. I previously recommended Yamana Gold (YRI/AUY) and the GLD fund. Which have all had great runs since. I think Yamana has had a great run which is why I think it's time to sell that one, because it is not a top tier gold company.
The GLD ETF (Exchange Traded Fund) which tracks the price of gold is still buy, as gold is going higher. Some analysts are saying it could go to $2500/ounce which is quite possible since interest rates are low and are staying low for some time, and the world has been printing money off like crazy.
The GLD ETF (Exchange Traded Fund) which tracks the price of gold is still buy, as gold is going higher. Some analysts are saying it could go to $2500/ounce which is quite possible since interest rates are low and are staying low for some time, and the world has been printing money off like crazy.
Eldorado is currently priced just a few cents away from $14. They are the lowest cost producer, and for every dollar that gold rises, it's a dollar in their pocket. Eldorado is constantly increasing production, which means they are also growing along with the price of gold. The stock is an excellent long term play, and they are benefitting highly from the rise in gold. Eldorado is a buy at any pullback. The stock is going to $20.
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