im new to the market since oil price is going up i thought betting on
metals would be better but even after record profit why GG share price
are going down ?

I think there are two major drivers. First, the demand for gold is
weaker because the industries that use gold are affected by high oil
prices though increased manufacturing costs. On top of that, overall
weak economy lowers the demand for their products. Second, gold mining
companies are themselves dependent on oil prices that translate into
higher production costs per ounce. I don't know which of the two named
reasons plays a bigger role, probably the first one (since the price
of gold is down). I'm sure any commodity trader will give a number of
other reasons for that. This is a complex system with many inputs. You
can't simply argue "oil up, dollar down, gold up, GG up" (or something
like that).

If demand for gold was down the value of it wouldn't have risen 30+
dollars an ounce over the past few weeks.

True. I was referring to the industrial demand, which I believe is
weakening, but don't quote me on that. The recent increase is clearly
driven by the uncertainty in the financial sector.

since the price hasn't move in 3 days, is it reasonable to assume that
it has bottomed at found support at 40??

No, it is not. If you make this conclusion based on stock price alone,
then it is no different than betting on red after three blacks at a
casino table. You absolutely need to look at other variables (stock
fundamentals, market conditions, etc.) to make an informed decision.

do we expect something good from thursday earnings??

never mind, this just in

http://network.nationalpost.com/np/blogs/tradingdesk/archive/2008/07/...

Yeah, but that is just one analyst out of 16 covering Goldcorp. The
consenus earning forecast is $0.22 per share and will probably meet
that. In the first quarter, GG beat the forecast by 1 cent and it is
likely that the record gold prices in May and June will have some
positive effect on revenue. As for the quality of the grade mined, I
have no way of knowing.

This analyst also talks of the impact rising fuel costs would have on
the mining operations. All the other analysts factored that in as well
in their estimates. We'll see on Thursday.

Thoughts?

"An once of gold when Jesus was alive, bought a nice suit.
An once of gold today, buys a nice suit".

I'm long on GG with many factors in play.  But foremost is a increase
in commodity prices, causing higher inflationary concerns globally.
Although gold is very volatile in the short run, these dips should
provide great buying opportunity's for the future.

This is a healthy drop in the violent volitale gold market, in a few
days there will be a 6% rise for a few days in a row, and we'll be
back up again.

Try this, zoom out to at least 1 year and look at how smooth and
beautiful the trend up, is.

Jul 31, 2008  Q2 2008 Earnings Conference  right?
any expectations!?

Jul 31, 2008  Q2 2008 Earnings  right?

I read today that GG profits are down reporting a 2nd quarter net
loss, and also that GG agreed to buy Gold Eagle today.  Does this have
a big effect?