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