Gold stocks have not done well with the rally in the metal. I'd
move slowly to buy any mining stocks yet. this is a strange pattern
on the $XAU with three bearish evening star candles in the last
three days. I would wait to see a close over the tops of these
candles before going long gold stocks. If we are about to see a
rally in the broad markets it would make sense to see gold and
bonds pull back here.
Posted by parkridge77 on 3rd of Aug 2011 at 02:59 pm
yep overall- unless you are trading the gold stocks- they have
been a very disappointing long these past few years.
GTU is central gold trust of Canada & that reflects spot
quite well- holds gold bullion-- CEF is the silver
equivalent --- just fyi
GG considered one of top gold procducers- Red Lake- I add a bit
to core below 50- it hit the 45-6 area recently
GLD is also recommended for retail as reflects spot pricing vs
the miners which have languished- but hedge funds that have the
recources prefer to take bullion delivery-- GLD is a trust and
could technically sell out /close at any time .
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Gold stocks have not done
Best Gold Stocks?
Posted by ditch on 3rd of Aug 2011 at 02:51 pm
Gold stocks have not done well with the rally in the metal. I'd move slowly to buy any mining stocks yet. this is a strange pattern on the $XAU with three bearish evening star candles in the last three days. I would wait to see a close over the tops of these candles before going long gold stocks. If we are about to see a rally in the broad markets it would make sense to see gold and bonds pull back here.
MACD histogram in your chart argues for buying gold stks now
Posted by hoshour on 3rd of Aug 2011 at 03:12 pm
yep overall- unless you are
Posted by parkridge77 on 3rd of Aug 2011 at 02:59 pm
yep overall- unless you are trading the gold stocks- they have been a very disappointing long these past few years.
GTU is central gold trust of Canada & that reflects spot quite well- holds gold bullion-- CEF is the silver equivalent --- just fyi
GG considered one of top gold procducers- Red Lake- I add a bit to core below 50- it hit the 45-6 area recently
GLD is also recommended for retail as reflects spot pricing vs the miners which have languished- but hedge funds that have the recources prefer to take bullion delivery-- GLD is a trust and could technically sell out /close at any time .