Gold investing is crossing into the mainstream.
The latest:
Northwestern Mutual, the third-largest U.S. life insurer by 2008 sales, bought gold for the first time in the company’s 152-year history…”Gold just seems to make sense; it’s a store of value,” said CEO Edward Zore. “In the Depression, gold did very, very well.” The insurer bought around $400 million in gold, and Zore believes that position could quintuple if the economy continues to weaken. “The downside risk is limited, but the upside is large,” Zore said. “We have stocks in our portfolio that lost 95%.” Gold “is not going down to $90.”
The Big Picture
Investor Sentiment Too Optimistic
Investor Sentiment at 9 Month High […]
Newsmakers
Rambler Metals & Mining to buy back part of NSR royalty for Ming property
Rambler Metals & Mining is exercising its right to buy back 3% points of the total 4.5% Net Smelter Return (NSR) royalty held on the Ming property in Canada. […]
Newsmakers
General Metals Receives 275 Assays From the High Grade Independence Gold Skarn
GNMT received 275 assays from the historic (1985-1987) Noranda Minerals drilling in the Independence Gold Skarn target on the Company’s Independence Mine Property. The results are in excellent agreement with the original results and, subject to QA/QC analysis, are now 43-101 compliant. […]