July « 2003 « Guild Investment

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July 25, 2003

By Monty Guild and Tony Danaher, on July 25th, 2003

GOLD

In the last week we have purchased an increased position in gold shares, and for those clients who are willing and able to purchase currency forwards, we purchased the Euro.

We purchased increased positions in several non-hedged gold shares. Our favorite gold shares are: among small-capitalization shares, Tan Range; among mid-capitalization shares, Agnico Eagle; and among large-capitalization shares, Newmont Mining.

Kudos to Jim Sinclair and Ken Adams for their very accurate and prescient calls on the turn this week in gold, and also to Harry Schultz for his wonderful gold stock charts in Gold Charts R . . .
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July 25, 2003

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July 25, 2003

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