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ABX Barrick Gold Corporation: first time I’m sorry to see my stock pick up 9% in a week! September 26, 2008

Posted by deminvest in investment.
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Gold can be a safe heaven for investors

Last week I decided to stay defensive. I didn’t (and still don’t) believe the stupid bailout invented by mr Bush is good news. This is why for my monthly investment I bought World’s largest Gold miner.

When people start questioning the value of paper or bytes… or bits… or bits of paper, they find the old heavy gold may be safer than anything printed.

Anyway ABX Barrick Gold Corporation went up 9% in a week and everything else on my portfolio is sinking day by day…

I am so sad to be right…

Comments»

1. deminvest - September 29, 2008

… even sadder now… Barrick up 15% in a week… the Nasdaq down 5% just today.

Booooooooooooooooooooooooo

2. Patti Morey - September 30, 2008

do you think iit might be possible that barrick is manipulating the market? the gold price sure has been doing weird things…i’

just, the stock market falls & people buy more gold. the gold keeps going a little bit up, then a little bit down. kind of interestingg.

3. deminvest - October 1, 2008

Patti,

I don’t think it is possible for Barrick to manipulate Gold prices. Gold markets are huge compared to Barrick, which is only able to extract a small amount of new Gold, compared to all the yellow metal which has been extracted by humankind in history and is still around to be bought, sold, melted, stolen, made into jewels…

It is very interesting to note how Gold price goes up when the stock market goes down

4. deminvest - November 6, 2008

This crysis is getting horrible in everyway: even gold isn’t the safe haven it used to be. So my Barrick shares are down 19% in two months.


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