New 52-week high list
Aurizon Mines Ltd. ARZ $5.79
Eldorado Gold Corp ELD $15.60
Novagold Resources. NG $8.99
New Gold Inc NGD $5.95
Red Back Mining Inc RBI $26.68
Silver Wheaton Corp SLW $19.96
Semafo, Inc. SMF $6.48
Silvercorp Metals SVM $8.33
Now I am just looking at the technical picture of gold and the gold miners and I am tuning out the noise of Greece, Spain, the threat of deflation, the Goldman Sachs fiasco and the potential of negative economic dislocations due to the Gulf oil spill.
Here is the play: Our Gold vs. Gold Stocks chart clearly displays the gold producers under performing the metal from 2009 to date. If the price of gold breaks above $1220 the gold producers will benefit from a bullish stampede into the group. If Gold stalls at 1220 we cut and run.
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3 comments:
as for price of gold, do you mean 1120? because if 1220 is your cut and run, you should be running now with gold at 1170 :-??
Hello Piazzi
Not yet - I anticipate gold will take another run up to the old peak and then we decide - in here the gold complex is just in a period of congestion before we get the real direction we are all waiting for
Bill Carrigan
What's your assessment on Gold? Did you notice correlations between currency and gold is finally breaking down? Looks as though destabilization in Euro is making gold golden.
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