Agnico-Eagle Mines Ltd (AEM) Kinross Gold Corporation (KGC) and Yamana Gold Incorporated (AUY) all have similar chart patterns in that the MACD has recently experienced a golden crossover.

If we look at the chart above of Agnico-Eagle we can see that the black line on the MACD portion crossed over the red line in an upward movement. This is usually a very positive sign for the stock in that we would now expect it to continue heading north. However no signal indicator can be totally relied on to be accurate every time but it does give us some comfort that this stock may have bottomed for now. As regular readers will know we do have some of this gold producers stock and have also recently purchased the January 2009, $60.00 Call Options, so it is a white knuckle ride for us at the moment.

For those share holders who own Kinross or Yamana you can see a very similar pattern emerging on their charts which bodes well for both companies.

At the moment it is difficult for us to see through the economic haze, however it does appear that the rally in the US Dollar is faltering and it will soon be heading south again. The correction in the price oil could well be over too but we will still keep a close on it. We have to say though that the mainstream commentators think the opposite to us on both the dollar and oil.

We have tried this summer to get into position for the rally in precious metals which we believe will challenge and exceed their old highs, with the a series of stock and option purchases. We are almost 100% invested and have maybe one or two trades to implement and then its matter of patience mixed with a little editing.
Hope that you are all set and we wish you every success with own strategy and stock selections.

Agnico-Eagle Mines Limited trades on both the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol of AEM.

Yamana Gold Incorporated trades as AUY on the NYSE and as YRI in Toronto.
Kinross Gold Corporation trades on the Toronto stock Exchange under the symbol of ‘K’ and on the New York Exchange under the symbol of ‘KGC’
These are fast changing times and it’s essential that you stay up to date with what is going on in the market. For our latest commentary and trading signals on gold, click here to subscribe to The FREE Gold Prices Newsletter and click here for The FREE Silver Prices Newsletter.