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Gold (GLD +0.4%) gains again, sending the price to a 3-week high of $1,290/ounce and the miners...

Gold (GLD +0.4%) gains again, sending the price to a 3-week high of $1,290/ounce and the miners (GDX +4.2%), (PSAU +3.3%) are responding. "Never let a serious crisis go to waste," says the JPMorgan team, paraphrasing Rahm Emanuel. The bear market is forcing managements to not only cut costs, but to consider restructuring from "a shape that was optimized for the 12 year bull market in gold to one that is more suited to a future with less available liquidity." Barrick (ABX +5.2%), Goldcorp (GG +3.9%), Gold Fields (GFI +4.4%), NovaGold (NG +3.2%). Don't forget the silver miners (SIL +3.1%): Hecla (HL +4.5%), Silver Wheaton (SLW +3.9%), Coeur (CDE +5.8%).
Comments (3)
  • thatsforschur
    , contributor
    Comments (36) | Send Message
     
    Seems like some common sense may be getting through...anyway that's what I'm acting on. Have read countless convoluted commentaries, so diverse as to where gold is heading, down or up but in the end the figures will - maybe already are - speak for themselves.
    16 Jul 2013, 04:41 PM Reply Like
  • bob52r
    , contributor
    Comments (35) | Send Message
     
    and $SAND?
    16 Jul 2013, 08:09 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5182) | Send Message
     
    (ABX) looks way undervalued. http://yhoo.it/18kVOyt;c=
    17 Jul 2013, 10:00 AM Reply Like
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