Chart courtesy of Stockcharts

At the time of our last update on the 26th May 2009 we said that the dollar now looked oversold and a short term bounce could be on the cards thus capping the progress in gold prices. We also said that Gold was technically close to the top of its range so it too could experience some short term consolidation or a slight pull back. Gold has moved down since then from $957.90/oz to $935/oz as we write however the dollars rally appears to have stalled as it is still hovering around the ‘80′ level.

For short term traders we suggested taking some profits on both Randgold and Yamana, we decided to sell all of our holdings in Randgold Resources and we then took an aggressive stance and bought PUTS on Randgold as we perceived that it was more overbought than similar stocks in the pack. We do however remain tight hold of our core position as gold could take off in an explosive manner catching many by surprise. We hope to close our down bet on Randgold shortly and re-position ourselves for the coming rally in gold prices (read more…)

Since our last update of the 10th March 2009 gold has moved up to $957.90/oz, silver up to $14.70/oz and the US Dollar has declined from ‘89′ down to ‘80′ on the US Dollar Index, lifting the stock price of most gold producers. The dollar now looks oversold and a short term bounce could be on the cards thus capping the progress in gold prices. Gold is technically close to the top of its range so it too could experience some short term consolidation or a slight pull back (read more…)

Chart courtesy of StockCharts.com

A quick look at the gold bugs index chart and we can see that gold stocks are trending higher and have gained 100 points over the last few months. The danger still exists that the DOW could close below 8000 and stay there, which according to some analysts signals a further fall to 6000. If this happens then once again we could be caught in the crossfire as the precious metals go out with the bath water. Hopefully the effect of having a new president will generate a rally in the markets at least for the next few months. We still need the de-leveraging to come to an end and the US Dollar to u-turn to in order to get some impetus into the precious metals sector (read more…)

A quick look at the gold bugs index chart and we can see that gold stocks have been decimated over the last few months. The technical indicators of the RSI, MACD and STO do not tell us very much as this climate of de-leveraging continues regardless of the quality of the stock being sold in order to generate cash (read more…)

We have not managed to update this portfolio since 22 June 2008 and we know it has been pulverised since then, largely due to the price of oil retreating and the US Dollar rallying to challenge its old highs.

A quick look at gold’s chart and we can see that a $200/oz drop in gold prices has dealt a hammer blow to the gold producing stocks. The technical indicators of the RSI, MACD and STO remain severely oversold so hopefully this sell off has now run its course (read more…)

This months highlights include taking profits on Yamana Gold Incorporated, purchased shares in Randgold Resources Limited and acquired Call options in Kinross Gold Corporation.

A quick look at gold’s chart shows that gold is continuing its sideways movement just above the $900/oz level. The 200-day moving average, (red line) is steadily rising and should provide support for the metal of kings. Also note that the MACD has turned positive for gold prices with the black line crossing over the red line in an upward movement. This is usually very positive for the underlying commodity as it is sometimes referred to as the golden cross (read more…)

Gold closed at $905.00 last night, little change from our update on the 5th April 2008 when it was $913.70, having paid a visit to the $850 level in the mean time. Gold has experienced a fall of around $150/oz followed by a bounce of $50/oz or about a third of the fall. Despite the euphoria surrounding gold we still see some consolidation and sideways movement over the summer months. Gold is still $80 or so above its 200 day moving average so take care this current rally could be short lived. However, there will be some precious metals stocks that land up in the oversold zone giving us the chance to employ our ‘opportunity cash’ as we did last summer (read more…)

Gold closed at $913.70 on Friday night and the yellow metal has taken quite a beating since peaking at over $1033 per ounce.

We expressed our concerns about a correction in gold and we took profits on some of our gold stocks that were showing great gains from our multiple BUY signals over the summer (read more…)

Gold has just opened in Asia and is trading at $947/oz, up $2.40/oz as we prepare this update, which should put a smile on the face of all gold bugs.
We have recently expressed our concerns about a pull back in the precious metals markets as it has been quit a run up and a breather maybe be due before resuming the march onwards and upwards (read more…)

As the main members of the team have been on the road for the last three months, travelling over the UK, America, and to Fiji before going down under, we have not been able to do our monthly portfolio update since October. Much has changed since then and so we have updated our portfolio to show where we stand on the various gold stocks that we follow (read more…)