I know I’ve said this many times but a gold bull market is perhaps the most difficult bull market to invest in. The emotions reach extreme highs and lows and that leads to unreasonable expectations! I have recently heard a slew of analysts projecting gold all the way down at 600.00, but there is no basis for that line of thinking. There is also absolutely no truth to the rumor that the bull market in gold/silver is over. No one likes it when the price falls but I look at it as an opportunity for all those investors who don’t have some gold in their portfolio to start accumulating. Trading gold can be a very frustrating experience. I will admit it’s been way more difficult than normal, and the past 4 months with volatility levels to the moon it’s hard getting low risk setups in both gold and gold miners. Money flows remain very strong which is positive. If they hold near these levels it will be very constructive, as it would indicate money is not flowing out. Another positive sign is the possible formation of a flag pattern, similar to the one formed in 2008. If this pattern becomes valid a possible price target can be calculated at $1,300 which has been my target for many months now.
If you need some ideas for Gold/Silver stocks do some DD on the ones I have a list below.
Agnico-Eagle
Anglogold Ashanti
ASA Ltd.
Barrick Gold
Central Fund of Canada
DRDGOLD
Eldorado Gold
Freeport Copper & Gold
Gold Fields Ltd.
Golden Star Resources
Harmony Mining
Inmet Mining
Ivanhoe Mines
Jaguar Mining
Kinross Gold
Newmont Mining
Northern Dynasty Minerals
Northgate Minerals
Pan American Silver
Seabridge Gold
Silver Standard Resources
Silver Wheaton
U.S. Gold Corp.
Vista Gold
Yamana Gold
