Win-Win on Gold?
I’m on my way back from Idaho, where I looked at a hot little gold explorer I’ll be telling you about in Friday’s UncommonWisdomDaily.com column. But I thought I should drop a quick note on gold. Take a look at this chart.
The recent strength in gold has been great. And the longer it holds over $1,000 an ounce, the better gold mining stocks look. However, the momentum of its recent rally seems to be running out of steam.
Maybe this is just a pause before the next thrust higher. Or maybe gold is about to pull back. My likely target would be its recent uptrend, which also lines up nicely with its 50-day moving average.
And if that happens, you can bet we’ll be buying in Red-Hot Global Small-Caps and Red-Hot Commodity ETFs.
So, it seems kind of win-win to me. How about you?
{ 3 comments… read them below or add one }
I don’t know the 1st thing about investing or how to buy gold or ETF’s, but I know my savings and retirement funds are not safe from recession/depression or govt. what can I do to protect my funds?
Sean - I recently ran across this posting on another website:
“The Federal Reserve System has disclosed to the Gold Anti-Trust Action Committee Inc. that it has gold swap arrangements with foreign banks that it does not want the public to know about.
The disclosure, GATA says, contradicts denials provided by the Fed to GATA in 2001 and suggests that the Fed is indeed very much involved in the surreptitious international central bank manipulation of the gold price particularly and the currency markets generally.”
What are your thoughts on this for future gold prices?
Where do I find the answers to the 2 questions that were ask?