Keep an Eye on Individual Gold Stocks

I like what is going on in this sector and everybody is always concerned with what is happening in the gold sector. Despite the inability of the gold ETF (GLD) to push to new highs, individual gold issues are experiencing accumulation day after day. After bouncing off its 200 day moving average, RGLD has had quite a few high volume positive days. Take a look at AEM, GOLD and IAG to name a few, and you’ll find the same type of chart action. I opened a position in AUY yesterday and continue to hold GLD.

While it’s been hard to get a read on the overall market with its daily gyrations and 100 point +/- days, one might want to look at this sector for some stability and a possible hedge against inflation.

Comments

[Rhett:]

DUH?

Apr 01 06:41 PM

[Hmm?!:]

Actually very good information. Gld seems to be in a bit of a stall or........ consolidation right now. Looking at all the miners there appears to be some anticipation.

Apr 02 01:07 AM

[arlin:]

The GDX has been relatively strong as of late,up till today.
with gold trying to hold 900 it's a toss up.so I look at support areas 883 is the most recent significant low and a 38% retrace of the move,if that goes then 850,then 800 and so on.
I'm not sure inflation is just around the corner but you are right,also gold traditonal role as a store of value regarding paper currencies
For people who may have bought the recent run up over $1000,they are now long term investors,for gold like everything else is all about timming.

Apr 02 07:28 PM