I have been spending a bunch of time on Gold this week as you have read here at The Market Guardian. I own Gold because I am not convinced the markets have reached the point of BUY, BUY, BUY and I don’t see the economy turning for 8-12 months. When we get a BIG bear market rally I will be here with some ideas but for now it is all about making money in the uptrend of Gold.
The charts are saying that 928 is a BIG number to cross and close above. If we do that there isn’t much in the way of heading right to 1000. I still feel this is the mid stages of a nice upside run for Gold. I am not like some that think Gold goes to 2000 but I do think 1200 with impending inflation down the road is doable. We are going to still have some pull backs to weather here and there but in the end Gold will be trading above 1000.
Gold has become the second reserve currency. A safe haven.
Gold has been trending higher over the last 2 years and miners are under priced so in theory they should out perform the metal itself.
My Favorites in this area are: AUY Yamana Gold, CDE Coeur d’Alene Mines, KGC Kinross Gold Corporation, RGLD Royal Gold, ABX Barrick Gold Corp.
