Thu Sep 12, 2013 5:06pm EDT* TSX falls 124.37 points, or 0.97 percent, to 12,701.05* All of the 10 main index sectors decline* Gold-mining shares shed more than 5 percent* Drops in Goldcorp, Barrick have biggest impact on indexBy John TilakTORONTO, Sept 12 (Reuters) - Canada's main stock indexdropped to its lowest point in a week on Thursday as gold-miningshares tracked a dive in bullion prices on market fears the U.S.Federal Reserve will announce a pullback of stimulus measures atits meeting next week.Bullion, seen a safe-haven asset, shed 3 percent aftergaining sharply in recent weeks on news of escalating tension inSyria. Gold prices fell as the Fed meeting neared and asinvestors watched Russia and the United States try to hash out adeal to disarm Syria of its chemical weapons and preventmilitary strikes.The price of silver tumbled 5.4 percent.Gold-mining shares recorded the biggest single-daypercentage fall in more than three months. They are down 42percent so far this year.To read this news release in full please click here.
With gold, silver and Uranium stocks being out of favor one must decide if this is a problem or an opportunity. We have steadfastly refused to buy gold and silver mining stocks for the last two years and as evidenced by the HUI we feel that our decision to hold back has been vindicated. The damage done to the mining sector may not be over yet but this demise is starting to offer up some exciting opportunities in my view.
Great care will be needed in the selection process in order to generate a reasonable profit and that’s where our new venture begins. ‘Stock Trader’ has begun trading on behalf of ourselves and our much valued subscribers, all exciting stuff which we are really looking forward to, if you wish to join us then please subscribe below;
Subscribe for 12 months with recurring billing - $199
Buy 12 months of subscription time - $199
Don’t forget if you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.
Please remember to check your spam folder once you have subscribed to ensure that your verification has not gone astray and you are getting our emails.
As regular readers will know skoptionstrading has capped its membership, so the best we can offer you at the moment is a place you on the waiting list which you can do via this link, thank you.