Gold has been going up as oil tumbles and the dollar is revealed as a weak currency. Louise Yamada, the founder of Technical Research Advisors, LLP and a former Head of Technical Research at Smith Barney (Citigroup), appearing on Yahoo’s Breakout highly recommended buying gold. She was recorded saying that gold is in a structured bull market which has continued upwards in spite of all market drops since 2009. She added, it would be wise to use any drops in gold price to add more gold to one’s position.
Buying Gold Mining Stocks
However, there are also other options to benefit from gold such as buying shares in companies that mine gold. One such company is Randgold Resources Limited which is invested in Africa and was founded by Mark Bristow. It has discovered several gold deposits such as a 7 million ounce deposit in Yalea and a 7.5 million ounce deposit in Morila in southern Mali, and a 5 million ounce deposit in Gounkoto in Western Mali, a 4 million ounce deposit in Tongon in the Côte d’Ivoire and a 3 million ounce deposit in Massawa in eastern Senegal.
Buy Gold Cheap
Randgold showed profits of U.S. $45.9 million and was up by 43% quarter on quarter and 92% above the corresponding quarter in 2010. It has a market capitalization of 9.7 Billion dollars. Since May 2011 its stock has risen from 70 to 106. Randgold may provide a way to invest in gold at a relatively low rate.
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