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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Gold shares cheapest since 2002 are ’coiled spring’ for rally: Commodities

Posted on 30 November 2011

Gold mining stocks are trading at their cheapest level in at least nine years even as the industry’s profits are estimated to almost double this year and bullion trades close to its historic high.
The benchmark NYSE Arca Gold BUGS Index (HUI) that includes Barrick Gold Corp. (ABX), Newmont Mining Corp. (NEM) and AngloGold Ashanti Ltd. ended last week at 17 times earnings, the lowest since at least November 2002 and below a five-year average of 37 times………………………………………..Full Article: Source


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