Gold investors are accustomed to waiting. We routinely wait for years as exploration projects slowly progress toward production. We've waited about 16 months for gold to break out of this overdone correction.
We continue to wait for people to stop presuming we're some kind of lunatic fringe. As long-awaited confirmation of our forecasts for a weakening dollar emerge with ever-increasing clarity, that wait may soon be over.
By far the easiest thing to wait out involves the seemingly universal setbacks to mine development timetables. Newmont Mining
While investors wait patiently for the next monster move in gold prices, slight delays like the one announced by Newmont and Agnico-Eagle Mines'
And second-quarter earnings for Newmont were certainly not what I had anticipated. The move to purchase AngloGold Ashanti's
I see a pot at the end of the rainbow for patient gold investors, and I suspect the wait is nearly over. The dollar has fallen below a level of critical support amid bold statements from China regarding redeployment of some dollar reserves. Meanwhile, management from a slew of quality miners from Yamana Gold
I anticipate tremendous earnings growth for the sector over the coming quarters and see Newmont Mining among the likely outperformers.
- Newmont stoked the engines of gold consolidation.
- The top 10 reasons to hold gold, bar none.
- Newmont's two world-class gold mines
Gold is a hot topic on the blogs at Motley Fool CAPS. Join the free service today and see just how many Fools are taking the long view on its prospects. The "Gold" tag at CAPS lists 41 companies, and you'll find Christopher's comments on most of them.
Fool contributor Christopher Barker can be found blogging actively and acting Foolishly in the CAPS community under the name TMFSinchiruna. He tweets, too. He owns shares of Agnico-Eagle Mines, Kinross Gold, Royal Gold, and Yamana Gold. The Motley Fool has a gilded disclosure policy.