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DRD - why the beating today?

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Regular Contributor
What's wrong here? Gold price drop doesn't justify this?
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22 REPLIES 22
Valued Contributor
read the sens from yesterday.
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Not applicable
I heard on the radio this morning that they are closing underground mines because the pumps cannot keep up with the volume of water. I can't remember many details, but it sounded pretty bad.
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Super Contributor
big oops... looks like the dog is going to be put down. This is terrible when things like this happen. Not only do investors get hurt but 1700 people and their families are now going to lose their income in an economy that is bluffing itself.
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Valued Contributor
nova, an industry that is kidding itself.
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Not applicable
An industry that makes you rich the moment gold shoots past $1000.
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Valued Contributor
well assumign gold ever gets past 1000 again. And last time it did, nobody got rich .
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Super Contributor
Gold is SA's equivalent the US motor industry.
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Valued Contributor
ya, except gov ain;t goign to bail it out, and they employ a lot lot less people these days . and at least a motor car does have a use .
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Not applicable
Last person to make money out of gold was Brett Kebble.
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Not applicable
Gold's time will come again. I'm not in gold now, but I made a good profit on DRD's last run, and will soon again, as the pure emotion of a genuine gold run is better than anything you'll ever see in Pamplona.
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Occasional Contributor
and I cant't short it (SSF) either. Makes it even more difficult to try and make back some of the money I've lost. The list of stocks we can short is getting shorter
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Not applicable
I hear that if you sign up to dealstream you can short most anything... Even your trust account.
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Super Contributor
Quite ironic the scale on which the sector makes gold out of money, though!
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Not applicable
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Super Contributor
Something interesting to notice. Put GLD and GFI (Har too, but GFI gives a better picture) see what you get. Using GLD as the rand price of gold. Using quantities have not dropped too substantially that an indication to me that HAR/GFI are good buys. Most people agree that commodities are the first thing they'll get back into when they do get back into the market.
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Regular Contributor
Mmm.. Missed the SENS - obviously news not as bad as originally thought? - someone did well shorting yesterday and gettin in again at below 300 today! Back to 345 now
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Not applicable
Don't get greedy on the upside. The pop up might have been due to people exiting their short positions after making a profit. Expect it to dribble down for a while as longer-term shareholders realise what has happened and bail out.
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Not applicable
At some stage the world investors are going to start losing faith in the US-TBill and convert their money to something else. I won't cry if we don't see a gold rally, but I do smell one coming.
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Valued Contributor
but convert to what ? ya-ya everybody says gold ... btu lets pretend for a moment that gold is a relic, then what ?
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