-- Posted Thursday, 31 July 2008 | Digg This Article
| Source: GoldSeek.com
Good day everyone.
I hope you’re all doing well today. I just wanted to share with you my quick thoughts on this time of year and some recent explosive developments in the gold market.
I have included a ten year chart above with gold circles marking every July to September period since the bull market began in 2001. As you can see that time frame represents a very good buy point. Every year the July to September period has market the bottom for the year and as the years have passed the moves up after that period have increase exponentially.
There are lots of reasons why this period marks the low for the year but that is for another time. The point is that now is the time to begin scaling in to your positions.
The next big thing to mention is the two recent takeover offers by Goldcorp and by Kinross Gold. There haven’t been many mergers lately but it seems the time has finally come that the severely underperforming junior and exploration sector which I focus on is valued low enough to attract takeover interest.
I mentioned in last week’s newsletter and will again this week that gold did technically test the important $1,000 mark for the second time. After this summer’s low is in, and I think it was put in briefly yesterday at $895, gold should head above $1,000 and stay there forever. This, along with the revived takeover interest will bring the money back to this sector.
If you are serious about investing precious metals and making hundreds if not thousands of percent on your money over the years I implore you to take the time now while things are slow, to do your due diligence.
Sincerely,
Warren Bevan
www.preciousmetalstockreview.com
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-- Posted Thursday, 31 July 2008 | Digg This Article | Source: GoldSeek.com
