Gold hit yet another all-time high of $1,383.10 U.S. an ounce in yesterday’s trading. It closed the day at $1,381.00, up $45.50.
A major factor in this latest gold-price rise was the Federal Reserve’s Wednesday announcement that it plans to inject $600 billion into the U.S. economy. That could spur inflation or further weaken the U.S. dollar. Continued low interest rates only add to inflation concerns.
These fears are prompting more investors to buy gold and gold investments, because they believe gold will provide them with additional security.
Gold investing: Look beyond gold prices when investing in junior gold stocks
Strong investor interest in gold investing has increased the prices of many gold stocks, including a number of junior exploration firms that have yet to establish a history of production or cash flow. That has pushed up interest in even the most speculative juniors. Promoters are stepping up to exploit this interest.
In fact, some heavily promoted juniors have only recently changed their focus to gold exploration to take advantage of investor interest in any stock with the word gold in its press releases.
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When you think about gold investing in a junior firm with nothing but promise, it pays to remember that it’s far easier to create an intriguing investment opportunity than a successful exploration program.
Mind you, both tasks take some ingenuity. Both call for an injection of capital and various professional services. However, all businesses start out as investments. But few investments, particularly junior miners, turn into profitable businesses.
Our investment advice: Regardless of what happens in the gold market, speculative and promotional gold stocks will make significant gains from time to time on hopes of a gold discovery. That’s always true of any sort of speculative or promotional stocks, but most investors who dabble in them still wind up losing money.
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