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From Jeff Clark, Senior Precious Metals Analyst, Casey Research:
For the past eighteen months, gold stocks have been pummeled.
They showed some life from mid-May to mid-June – GDX, the gold miner’s index, was up 21%, while gold rose 5.5%. That bounce was exciting, but they’ve still got a lot of lost ground to make up. Since January 1, 2011, GDX is down 28%, while gold is up 10%.
So what’s going to [...]
From Jeff Clark in Growth Stock Wire:
Gold stocks are finally showing some positive price action.
The Market Vectors Gold Miners Fund (GDX) is up 8% in the past week. It was higher
yesterday even as the broad market declined… And even though gold was down on the day.
It appears gold stocks are finally starting to outperform the action in the metal itself.
Take a look at this chart comparing the action in GDX to [...]
From Pragmatic Capitalism:
Gold mining stocks, as measured by the AMEX Gold Bugs Index (HUI), are down nearly 40% from their August 2011 high. Representative ETFs such as GDX and GDXJ as down similar amounts, if not more. Mining company stock prices look to be falling into the abyss.
While buying mining stocks here could certainly look foolish in the near term, NOT accumulating positions, or selling them for that matter, is [...]
For the past decade, gold has been an incredible investment, rising from under $300 per ounce to as high as $1,900 per ounce before retreating to around $1,650 in recent trading.
For the bulls, gold’s recent drop is nothing more than a temporary setback on its inexorable march toward $2,000 and beyond. The case for gold rests primarily on factors familiar to anyone who’s even remotely familiar with the metal: easy money [...]
by GoldAlert Staff
GOLD PRICE NEWS – The gold price climbed $11.90, or 0.7%, to $1,654.89 per ounce on Friday as the commodities complex rebounded from yesterday’s losses. The Price Of Goldhovered near unchanged at $1,645 in overnight trading, but turned higher amid U.S. dollar weakness this morning. Silver advanced alongside the gold price, by $0.31, or 1.0%, to $31.78 per ounce. U.S. equity markets opened near unchanged this morning, with the [...]
After the last 12 months of craziness traders can be forgiven if they’ve become inured to moves in precious metals. To those who swore off semi-precious silver last summer it’s time to rue the day: Silver has rather quietly staged a more than 20% rally since the beginning of 2012.
According to Michael Purves, chief market strategist at BGC Financial, silver is apt to warrant more attention. “Silver is [...]
Notice that during last week’s brief pullback, the NY Composite pulled right back to the 21-day EMA twice and held.
And, we closed at new highs for the move on Friday.
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosetti…
QQQ is still outperforming SPY:
http://chart.finance.yahoo.com/z?s=SPY&t=6m&q=l&l=on&z=l&c=QQQ&a=v&p=s&l…
If the short interest is as high as Tyler says it is, then if the EUR gets another huge squeeze, that is going to send all Risk Assets of every type, race, color, sex, and ethnic origin up [...]
This morning, gold and gold mining stocks are taking off to the upside. The popular Market Vectors Gold Miners ETF(NYSE:GDX) is trading higher by $1.64 to $66.55 a share. Traders must watch the $66.50 and $67.00 levels as short term intra-day resistance. The daily chart on the GDX continues to remain very strong, however, the GDX is starting to get a bit extended and overbought. Whenever, stocks or ETF’s get [...]
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