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« If Cyprus Is the Bellwether, then Canada Is the Red Flag | Main | Gold – You Better Hold It »
Wednesday
May082013

Wednesday frenzy for gold stocks

The gold price gained $24 to $1,473 in afternoon trade on Wednesday within striking distance of a post-crash high which sent investors scurrying for gold mining stocks.

Bullion bulls are still nursing a 12%  decline in the price of gold this year, but many market observers believe the en-mass dumping of gold counters  may have been overdone.

While others may be convinced that today's surge is nothing more than a dead cat bounce the fight-back from some of the most beaten down gold miners have been impressive.

Barrick Gold Corp (TSX:ABX) gained 8.6% to $21.50 as the Toronto-based global number one gold miner continues to recover from 20-year lows struck mid-April.

We found this article on www.mining.com, to read it 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;

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Don’t forget if you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver 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.

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Reader Comments (4)

Hi:

I am confused. On the one hand you are saying that the Gold Bull Market is over, and on the other hand you are buying select mining companies?

Can you please shed some light on this?

Thank you.

May 9, 2013 | Unregistered CommenterNathan

Hi Nathan,

The new 'Stock Trader' service will go both long or short depending on our research at any particular time. Gold and silver doesn't head in one direction on a permanent basis.as we all know. As you probably also know we steadfastly refused to buy any stocks for about 2 years as they were too expensive in our opinion. However, I am now of the opinion that a number of quality stocks are worth a second look.

We also try to bring our readers a variety of views and opinions in order to provide some balance for our readers.

Hope this helps, if not fire in any questions that you may have.

All the best,

Bob K

May 9, 2013 | Registered CommenterGold Prices

Thanks Bob.

What time period are you looking @ holding these stocks? Weeks to Months?

And while I realize there are no quarantees in this business, what kind of returns are expected?

Do you go long and short the individual names or just the ETF's?

Thank you.

May 10, 2013 | Unregistered CommenterNathan

Hi Nathan,

The only stocks I will hold are those that are traded through our new service 'Stock trader'

We intend to go both long and short on both stocks and ETF's as and when our research suggests that we do so.

It would be silly of us to try and forecast returns in such a volatile trading environment, so we'll have to pass on that one.

Take care,

Bob K

May 10, 2013 | Registered CommenterGold Prices

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