Last week, Newmont Mining (symbol NEM on New York), one of the world’s biggest gold producers, said that it believes that gold could rise as high as $1,350 U.S. an ounce this year. Gold has fallen from the all-time high of $1,214.80 U.S. that it reached in late 2009, and now trades around $1,092 U.S.
We agree that gold could well move higher over the longer term, although it will remain very volatile. Rising gold would be mainly driven by investor fears that low interest rates and government stimulus spending will spur inflation. That could prompt many investors to seek security by investing in gold.
As with any volatile commodity investment, conservative investors should be careful when investing in gold. Further, you should hold only a modest part of the resources segment of your portfolio in gold stocks.
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Gold-mining stocks: A better choice than bullion
We think the best way to invest in gold is through gold-mining stocks. We recommend staying away from buying gold bullion, coins (unless you collect them as a hobby) or certificates representing an interest in bullion.
Like bullion, gold mining stocks benefit from increases in the price of gold. But unlike bullion, which comes with a continuing cash drain for management, insurance and so on, gold stocks have the potential to generate income.
Newmont Mining: A diversified gold producer that’s building for the future
Newmont made its prediction of gold at $1,350 U.S. an ounce at the official opening of its Boddington gold mine, which is now the largest gold mine in Australia. The company expects Boddington to produce one million ounces of gold and 30,000 tonnes of copper in each of its first five years. The mine’s average annual output over its expected life of over 20 years is 850,000 ounces of gold and 35,000 tonnes of copper.
Newmont continues to build a strong portfolio of new properties to replace its current reserves. Aside from Boddington, the company is deciding whether to move forward with its Minas Conga copper/gold project in Peru. Newmont believes that Minas Conga could contain more than 6 million ounces of gold and about 1.7 billion pounds of copper. The company expects that a mine on the site would last between 15 and 20 years.
Whether or not Newmont’s gold-price prediction comes true, the company remains a standout among gold stocks. That’s because its high-quality mines should last for decades, and its costs are coming down. As well, most of its production is in politically stable areas, such as North America and Australia.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
We store subscriber and password files containing personal information securely. These files are stored in secure areas that are not accessible to the general public. We are always working to ensure the security of your personal information.
We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
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Does TSI Network Use the Information It Receives?
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COMMENTS: TERMS OF USE
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TSI Network does everything possible to prevent unauthorized intrusion to its websites and the alteration, acquisition or misuse of personal information by unauthorized persons. Notably passwords submitted by users of our websites are encrypted using encryption mechanisms. However, TSI Network cautions visitors to its websites that no network, including the Internet, is entirely secure. Accordingly, we cannot be responsible for loss, corruption or unauthorized acquisition of personal information provided to our websites, or for any damages resulting from such loss, corruption or unauthorized acquisition.
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TSI Network has procedures in place to keep your personal information accurate, complete and current for the purposes for which it is collected and used. You may review the information that you have provided to us and where appropriate you may request that it be corrected. If you wish to review your personal information please send a request to: service@tsinetwork.ca.
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The provision of information by you is entirely voluntary and you have the right not to provide information. Subject to applicable law, you may have the right to receive certain information as to whether or not personal information relating to you is held by TSI Network and to obtain a copy of such information that is sought. You may also have the right to require information, where appropriate, to be erased, blocked or made anonymous or to have data updated or corrected. If you do not wish TSI Network to hold information about you or if you wish to have access to information, modify information, or object to any processing of information or if you have questions please contact us.
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
The contents of this web site and our publications are based upon sources of information believed to be reliable, but no warranty or representation, expressed or implied, is given as to their accuracy or completeness. Any opinion reflects the Successful Investor’s judgment at the date of publication and neither the Successful Investor, nor any of its affiliated companies, nor any of their officers, directors or employees, accepts any responsibility in respect of the information or recommendations contained in the publications or on this web site. Moreover, the information or recommendations are subject to change without notice.
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