August 03, 2006 17:37 ET Nearing the End of the Correction

DENVER, CO -- (MARKET WIRE) -- August 3, 2006 -- The end of the correction that has held most of the mining stocks hostage these past few months may be nearing. Leading the way in the rebound is physical demand for gold, as geopolitical worries continue to put investors on edge.

According to Greg McCoach, an authority on mining and resource companies and contributor to investment e-letter Gold World, "The never ending Israeli/Arab conflict, the nuclear standoff with Iran, and the bombings in India have once again supplied a reason(s) to own gold. The world is becoming increasing more unstable and more investors are turning to gold for some protection."

McCoach expects to see a surge in buying later this fall as major hedge funds, central banks, and other wealthy investors seek alternatives to the U.S. dollar. "Gold will be the currency of last resort as the world comes to grip with and realizes the problematic consequences of fiat money. It won't matter whether you have dollars, euros, or any other fiat currency, because gold will outperform them all."

"While this is happening I expect the mining stocks to once again pick up the momentum from where they last left off in late April," said McCoach. "For the most part, the mining stocks have been on a major vacation this summer -- giving the term 'Summer Doldrums' new meaning."

Trading volumes have been poor, but McCoach notes "activity this past week has been encouraging that we are hopefully ready to turn the corner on this chapter and move back into profit mode."

Greg McCoach is a frequent contributor to Gold World (, an investment e-letter that focuses on investment in the gold and metals sectors. For the last 7 years McCoach has been involved with the precious metals industry as a bullion dealer and investor. His years of business experience and extensive personal contacts in the mining industry provide unique insights that have generated an impressive track record. McCoach is also a contributor to Wealth Daily.

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