Looking at 10 year charts today, noticed a lot of the stocks in this group seem to have had a drop on par with the great correction of 2008. Anyone have any insight? Time to buy inverse gold etf? Time to load up on PM stocks? Is this another sign that gold price is rolling over?
Last edited by Andrej; 2012-05-08 at 07:43 PM.
I'm buying Canadian Resource Fund (McKenzie) each month rather than putting $ in GIC's and Bond funds - I think that this is a great opportunity to load up on PM and resource related stocks. The fund is -25% on the year.
No idea why this is happening but I have added to my positions in several junior miners last week. Hope they make a turnaround soon.
What is gold currently yielding?
http://pragcap.com/why-warren-buffett-hates-gold
I am also adding more to my gold stock exposure and bought more today even though we could still be in for a rough ride as gold itself finds a bottom. One would ask then why not wait, but the problem with waiting is that when these things do take off it can happen very quickly.
I believe that precious metals investments can legitimately be included as part of a well diversified portfolio. An allocation of 5 to 10 per cent would be appropriate for most investors.
I hold the RBC Global Precious Metals Fund in my portfolio.
http://funds.rbcgam.com/pdf/fund-pag.../rbf1038_e.pdf
Precious metals investment are inherently volatile as the performance chart of the above fund demonstrates. And so, if like me, you are a buy-and-hold investor, expect the inclusion of precious metals investments in your portfolio will add to it's volatility.
Last edited by Belguy; 2012-05-09 at 10:55 AM.
1560 area is very strong support in the past two years.
i like randgold a lot .
bought some today.
i would not be surprised to see that level , which in case a mkt colapse happens will be violated and the 1400 last seen in ........ hmmmm may/11 is next support.
either way nothing goes down or up in a straight line.
What's the best way to play falling gold bullion? Technicals seem pretty negative. No speak of printing more $$$... Looks like it might be rolling over.
The price action over the past week is extremely positive. Note the head and shoulder pattern on this chart.
A “textbook” breakout has occurred, even while bullion has struggled a bit.
I’ve set a target of the $47.11-$48.33 price zone. That price area should bring in some momentum-based hedge funds, which could push the price even higher.
Gold stock investors may be about to receive a well-deserved rally.
~Morris Hubbartt
http://www.321gold.com/editorials/sf...rtt052512.html
GDX live chart:
http://stockcharts.com/h-sc/ui?s=GDX...d=p42901917662
Last edited by zylon; 2012-05-25 at 02:07 PM. Reason: updated chart
Thanks for the info. Zylon!
“Simplicity is the ultimate sophistication.”
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