Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199


Search Gold Prices
Gold Price
[Most Recent Quotes from]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« Yamana Gold Incorporated: Prelim Results for Q2. | Main | Gold: Are juniors the way to go? »

Randgold Resources Limited: Going well!

Randgold Chart 09 July 2008

As you can see from the above chart we acquired the stock of gold producer Randgold Resources Limited for an average price of $37.65 per share on the 16th June 2008, it closed today at $45.30 for a gain of 20.30% in less then a month.

A quick recap of the Randgold’s progress shows us that our purchase is going well so far which is a pleasing start for those of us who bagged a few. The chart shows us that Randgold has moved up rapidly in a short period of time and now appears to be taking a breather. It could also be the subject of some profit taking by investors wishing to lock in their short-term profits. Nevertheless, the stock price is close to the 200dma and may well come to rest there before the next advance.

The chart below serves as a reminder of how important timing is. As you can see the stock price had experienced a double top before deteriorating to brake through the 200dma heading south. The technical indicators were also on the floor so we figured that the downside was limited and decided to pounce. It is early days yet but this is a quality gold producer, which we acquired at a good time. Should the stock continue to drop we will once again consider increasing our exposure to it either through the purchase of more stock or a possible foray into the ‘options’ arena as we did with the Kinross Gold Corporation.

Randgold Chart 17 June 2008

Any purchases made on dips this summer should put a smile on your face come the end of the year rally which should be in top gear!

Have a good one.

Randgold Resources Limited trades on the London Stock Exchange under the symbol of RRS and on the NASDAQ under the symbol of GOLD.

If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, just click on the links.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>