Gold is up +10 in the overseas markets. I will be looking to trade some gold stocks this week. Russ's Yamana Gold looks good on the next pullback, as does my previous pick, Northern Dynasty. Fronteer is another good candidate.
Monday, November 27, 2006
Gold and the USD$
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2 comments:
Phileo,
Great point on the Gold stocks. At this moment the dollar is hovering around $1.32/Euro. If it manages to fall thru the Dec '04 high (low) of $1.3666, we should be off to the races with the gold prices.
What do you think about GLD as a proxy for the sector, or do you prefer individual stocks? Thanks!
Hi Will,
First off, thanks for dropping by to visit!
In regards to GLD, I don't really see it as a proxy for the sector. If anything, gold bullion prices tend to lag the market trends of the gold stocks. I look more at $HUI and $XAU as a proxy for the sector. For something tradeable, I look at gdx, or some of the individual components of HUI. Hope this helps !!
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