Gold is up $22 this morning, as I type. The correction will almost certainly be over, and this day will likely result in a new launch in our mining shares. Only if the price should somehow fall back intraday, will this scenario not play out.
So, let’s get right into them, and how they did yesterday…
Those that rose in price, but on low volume were: NGD, PAAS, AUY, FSM, HL, AGI, SA, ABX, EXK, KGC, CDE, SGDM and RGLD
Some declined, but on lessening volume like: RIC, AU, HMY, SLW, GDX and GLD.
Then, there’s those that rose on expanding volume as AG did.
Gold closed lower, while most miners rose on weak volume. Most are eking out a very shallow dip of a correcting pattern of no more than even one week’s duration. Judging by gold’s rise overnight, this correction will likely end today, and a new leg upward will most likely commence. We’ll see after the end of the day.
I only bought in on Friday 4/8… not one minute too soon! It’s still early. You may want to get in while the getting’s still good. I recommend mining ETF, SGDM… mining royalty stocks, RGLD and SLW… and individual miners AUY, which closed at a new high yesterday, and SA. But, really, you’ll do well in nearly all, but I’m starting to look askance at HMY, and may sell it today, to acquire another.
Here’s to the acquisition of real wealth!
Harold F Crowell