Gold Bullion or Gold Mining Stocks?

FOXNews.com - Business News - Gold Bullion or Gold Mining Stocks?: "Denver-based Newmont Mining Corp. (NEM), the world's biggest gold producer, reported a drop in profit, citing not only high energy costs but also a shortage of miners and environmental protests in Peru that delayed exploration.
And Placer Dome Inc. (PDG), Canada's No. 2 gold producer, said it was hurt by higher energy costs and a loss on hedging against metal price fluctuations.
But Toronto-based Barrick Gold Corp. (ABX) saw third-quarter profit more than triple, and Freeport-McMoRan Copper & Gold Inc. reported higher profit and forecast fourth-quarter gold sales would more than double.
Newmont stock is trading at roughly 55 times estimated 2006 earnings — above the sector average of 53. Barrick is at 51.5 and Placer Dome at 81, according to Reuters data. On Wednesday, Placer Dome rejected an unsolicited $9.2 billion takeover bid from Barrick."