A Rough Ride!

This correction in gold, though necessary as a prelude to further advances, has given us great volatility in the price of gold. It had in the last 30 days been as high as 537.50 on December 12th. and as low as 487.60 on November 23rd. During the recent volatility, neither the high nor the low has been breached.

This is the Christmas season and many traders are taking it easy. Of course, there is likely a good bit of selling of losing positions in preparation for income tax. That is not a bad idea! Look over your portfolio and cull out the poor perfomers.

DROOY has traded from about 1.38 today to the current 1.32. It is in my cautious buying range. Be careful as it may move some lower with the current volatility. However, longer term this seems to me to be a good price if you do not hold any. Of course, the percentage of your portfolio across the various sectors of the markets and media will impact upon your personal decision.

Also, do not forget to check out CEF, the Canadian Fund which invests in physical gold. It is currently trading around 6.22 per share.

Let's all keep our eyes upon Jesus Christ during this season. He is our Sovereign Lord and Savior. Praise Him, thank Him, and always give Him the glory!

A blessed Christmas to one and all,

Doug