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« 3 Steps to Geographically Diversifying Your Gold Stocks | Main | A Trillion Dollar Band Aid »

Gold Prices at $1233.30/oz

Gold Chart 12 May 2010.jpg

As the NYSE comes to a close we can see that gold prices have put in a fantastic day gaining $30.00/oz despite yesterdays euphoric response to the European bailout package.

As the chart shows the rise started in the southern hemisphere with Sydney, Singapore, through the UK and finally with the largest gain coming after the NYMEX had closed.

The HUI was also wide awake for this one and it gained a little over 30 points with some of our stocks doing very well such as:

Kinross Gold Up 7.71%
Yamana Gold Up 6.55%
Agnico-Eagle Up 3.47%
AEM Call Options Up 42.68%

Note the leverage by the Call Option on Agnico-Eagle against the progress of Agnicos stock price, spine tingling stuff, however, there are times that you have to drink de-caf instead of a fully leaded coffee when you are trading options.

Smile if you are a gold bug.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.

Over on our sister site, we have been rather fortunate to close both the $15.00 and the $16.00 options trade on Silver Wheaton Corporation, with both returning a little over 100% profit.

If you would like to get a bit more bang out of your buck, then check out our Options Trading Service please click here.

For the analysis of a recent options trade that we have just closed please click this link.

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For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

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