So do you think that given the outcome of the jobs report (below) resulting in the strengthening of the dollar, and recent news like the one below will result in a temporary dip providing a good buying opportunity?
I'm thinking it'll hit $600-$635 range in the short term. What percent of your investment portfolio / net worth do you think would be good to keep in gold?
Gold Slips on Strong Labor Data
http://www.thestreet.com/_dm/markets.../10343506.html
Minera Andes Aims to Produce 120,000 Ounces of Gold by 2009
By Rob Delaney
March 9 (Bloomberg) -- Minera Andes Inc., a Canadian mining company, said it aims to produce 120,000 ounces of gold annually by 2009 from a deposit in Argentina.
Minera, 30 percent owned by entrepreneur Robert McEwan, will begin by June to process 750 tons a day of ore from its San Jose deposit, which will yield 60,000 ounces of gold and 3.1 million ounces of silver a year, the company's President Allan Ambrose said in an interview in Toronto. Processing capacity will double within 18 months of the start of production.
In the deposit's first phase, the company is mining 3 kilometers (1.9 miles) of mineral veins, which hold an average of 7.7 grams of gold per ton, Ambrose said. Minera aims to eventually mine about 40 kilometers, which have shown similar concentrations.