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Thread: Gold Stocks Were Financial Saviors During the 1930s

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    Default Gold Stocks Were Financial Saviors During the 1930s



    Gold Stocks Were Financial Saviors During the 1930s

    Jay Taylor


    Homestake Mining and Dome Mines were two gold producers that made their shareholders wealthy during the Great Depression. Before Barrick Gold acquired it, your editor received daily price data from Homestake Mining dating back to 1888. I used that information in some “what if” examples to see just how effective Homestake was in hedging against losses during the devastating 90% decline of the Dow Jones Industrials during the 1930s. Here is what I found.



    In the chart above, the red line with yellow boxes represents the value of $1,000 invested in Homestake starting in December 1928. Note at its peak in 1938, a $1,000 investment in Homestake grew to $6,760! Not only did it grow in nominal terms, but it was also even more impressive than it appeared, because with deflation, those $6,760 bought more in 1938 than they did in 1929!

    MORE- http://www.gold-eagle.com/gold_diges...lor102508.html
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    I took a trip to a gold prospecting store on saturday. I asked the proprietor what he knew about a small time gold mining concern for sale.
    they had little info that i am interested in. but pointed me in a direction that might be promising.


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