Well, here is the correction!
I believe gold is in a primary bull market, but the price move to $544 was too quick. The correction was due. I would hope that $500 would hold. This morning gold was as low as $509, but has returned to $511.30 as I write.
Mining stocks are not moving in concert with gold. This is true as gold goes up and, also, as gold goes down. There is just not sufficient interest in gold to move the mining stocks. When that interest develops, the mining stocks will move more rapidly than gold.
The Central Fund of Canada (CEF) which invests in physical gold has moved in concert with gold. Early November the price was as low as $5.62. It moved as high as about $6.66 on about December 9th. It is now at $6.25. It does track the price of gold quite closely. This is a closed in mutual fund which trades on the AMEX. I believe it is a convenient way to invest in gold. My preference is physical gold, but this is a close second.
DROOY is $1.41 now and was as low as $1.38 earlier today. It seems to be hanging into the $1.30 to $1.50 trading range. For a few days, $1.38 is the low.
Remember to study and make your own investment decisions.
Celebrate the Lord's Birth with corporate worship and family gatherings. In everything, we must give God the glory and enjoy Him forever. Remember true lasting joy comes only through having the King Jesus and your Lord and savior.
Best to each, Doug
Mining stocks are not moving in concert with gold. This is true as gold goes up and, also, as gold goes down. There is just not sufficient interest in gold to move the mining stocks. When that interest develops, the mining stocks will move more rapidly than gold.
The Central Fund of Canada (CEF) which invests in physical gold has moved in concert with gold. Early November the price was as low as $5.62. It moved as high as about $6.66 on about December 9th. It is now at $6.25. It does track the price of gold quite closely. This is a closed in mutual fund which trades on the AMEX. I believe it is a convenient way to invest in gold. My preference is physical gold, but this is a close second.
DROOY is $1.41 now and was as low as $1.38 earlier today. It seems to be hanging into the $1.30 to $1.50 trading range. For a few days, $1.38 is the low.
Remember to study and make your own investment decisions.
Celebrate the Lord's Birth with corporate worship and family gatherings. In everything, we must give God the glory and enjoy Him forever. Remember true lasting joy comes only through having the King Jesus and your Lord and savior.
Best to each, Doug
posted by Doug @ 9:54 AM
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