The chart is courtesy of Kitco.com
After the close in New York gold continued to head north and although at a slow pace it is good to see it making steady progress as the above chart shows. If you have held stocks for some time you should be seeing some improvement to your portfolio as the precious metals continue to sparkle.
The Gold Rush on CNBC is worth a watch, the guests see gold going higher, however, they throw in enough caveats to cover themselves just in case and their recommendations on how to invest $1000 was way beyond our comprehension. However, its good to listen to alternative views in order to appreciate both sides of the debate, just click here to see it.
To feel a little better you might want to listen Jim Sinclair, an interesting take on the 'staircase' rise in gold-prices, just click here.
For those of you who just cant stomach our all out approach to precious metals and their associated mining stocks you might want to consider buying some well 'out of the money' long dated Put Options. Should gold and silver drop then the Puts would appreciate and cushion some of your loses. This way you can still hang onto your core position and sleep a little better knowing that you have some insurance against a fall.
Are we buying Puts, Nop! we are still looking for gold and silver to run higher and close a lot higher come News Years Eve, a position that we have not changed and constantly have reiterated of late.
Hold on tight it is still going to be a white knuckle ride so please don't go too crazy on any one particular stock or vehicle, make sure that you can live to fight another day.
Finally, please, please, please, comment on our articles, they are really useful for us and our readership, thanks!
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