Gold – What Price to Expect

The Price of GoldGold on gold 

In the CymorFund article of July 24, 2013, we noted that gold seems to have found a support level. We think GOLD is Attractive, so what is more appropriate than a picture of beauty in front of Gold.

CymorFund Gold Stock Picks

Some of CymorFunds Stock Picks in our Investment Letter are junior gold stocks including Lakeshore Gold, Probe Mines,  and Detour Gold.  We think the value of these stocks is very good, whether or not gold increases in value.  If gold does increase in value, these stocks are yet again even more valuable.

To give some further insight into the near term estimated value of gold, we quote The Daily Report of July 26, 2013 of H. M. Visagie to whom we are grateful for this update:

  • The World Gold Council estimated that gold recycling may fall by 25% this year to between 1,200 and 1,300 t from 1,600 t in 2012. The prospect for reduced bullion recycling levels in combination with tight mine supply is gold positive and provides support to Au prices.
  • The World Gold Council (WGC) predicts that China’s demand for gold is expected to reach 1,000 t this year. This compares with India’s average yearly imports of 963 t.

 The chart of Gold also is quite BULLISH as it shows a support for the price of gold. This is a good time to buy solid value, well managed, junior gold producers.

 Kitco 6 month Gold Chart

http://www.kitco.com/charts/livegoldnewyork.html

 

 

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Stock Picks Investment Letter – Our Winning Record

In spite of a disastrous down plunge in the junior resource market,  our picks are substantially ahead. We have now closed four positions – all four were profitable.

  • We closed eMinis for an 11% gain
  • We closed Medicago for a 119% gain
  • We closed Apple for a 2% gain.
  • We closed Facebook for a 32% gain.

We have 8 positions open currently. Some are down and some are up. We think there is a substantial upside to each of our open positions and are holding all. Overall, we are substantially up.

 

We may or may not have positions in the securities we name. In making an investment decision numerous factors must be considered including portfolio balancing, timing, cash and capital reserves, asset allocation and other factors. Readers are strongly advised to do their own research. Matters discussed contain forward-looking statements that are subject to risks and uncertainties and actual results may differ materially from any future results, performance or achievements expressed or implied.

Views expressed are opinions and not investment advice. Persons investing should retain a licensed professional to guide them and  not rely on the opinions expressed herein. This report is neither a solicitation nor a recommendation to buy or sell securities. We are not a registered investment advisor nor a broker-dealer. The information contained herein is based on sources which we believe reliable but is not guaranteed as being accurate or a complete statement or summary of the available data.

By Larry Cyna

Mr. Cyna is an accomplished investor in the Canadian public markets for over 20 years, and has managed significant portfolios. He is a financing specialist for private and public companies, and has expertise in real estate and debt obligations. He has assisted private companies accessing the public markets, has been a founding director of public companies and continues as a strategic consultant to selected clientele. He is and has been a director, a senior officer and on the Advisory Board of a number of TSX and TSXV public companies in the mining, resource, technology and telecommunications sectors, and the Founding Director of two CPC’s with qualifying transactions in mining and minerals. He was an honorary director of the Rotman School of Management MBA IMC program, has completed the Canadian Securities Institute Canadian Securities Course & Institute Conduct and Practices Handbook Course, was a former Manager under contract to an Investment Manager at BMO Nesbitt Burns, a roster mediator under the Ontario Mandatory Mediation Program, Toronto, a member of the Institute of Corporate Directors of Ontario, a member of the Upper Canada Dispute Resolution Group, and the Ontario Bar Association, Alternate Dispute Resolution section. He obtained his designation as a Chartered Accountant in Ontario in 1971 and was the recipient of the Founder’s Prize for academic achievement together with a cash reward. He became a CPA in the State of Illinois, USA in 1999 under IQEX with a grade of 92%. He is a Member of the Institute of Chartered Accountants of Ontario and the Canadian Institute of Chartered Accountants. He holds certificates in Advanced ADR & in Civil Justice in Ontario, Faculty of Law, University of Windsor, certificate in Dispute Resolution from the Ontario Institute of Chartered Accountants. Previous accomplishments are Manager of Cymor Risk Consultants LP specializing in Risk Management Assessment; CEO of Cyna & Associates specializing in mediation and ADR; Founder & Senior Partner of Cyna & Co, Chartered Accountants, a fully licensed and accredited public accountancy firm with international affiliations; and was a partner in a large public accountancy firm. Mr. Cyna is well known in the Canadian Investing community. He is invited to, and attends presentations given by public companies usually 3 or 4 times each week. These presentations are intended by the various hosting companies to present their inside story to sophisticated parties and Investment Managers for the purpose of attracting funding, or of making parties more interested in acquiring shares of those companies. Being a part of this keeps Mr. Cyna deeply involved in the current market and leads to numerous investment opportunities.