Gold and Gold Stocks

I just did this podcast with David Bannister of www.activetradingpartners.com.

In this podcast David and I talked about the recent action in gold and his trade in MUX.

Last Thursday Dave wrote an article saying that it was time to be brave and get into gold stocks. He listed ten reasons why he was bullish. You can read them here.

This could turn out to be a key day for gold. After last month's gold crash I thought that gold and mining stocks would rally back up for a week or so and then come back down to test their lows. After that I thought they would go back up and consolidate to put themselves in a position to breakout into a new bull market. I wrote about this scenario right after the gold crash here.

Normally after a big crash like this and such a fast bounce a market will lose momentum. It is simply unreasonable to expect gold to continue to rise at the rate it has in the past two weeks.

I just did this podcast with Dave Skarica of addictedtoprofits.net.

In this podcast Dave and I talked about the recent moves in the gold market and mining stocks.

"The Supply and demand of gold is very important. That is why it is money, because gold is used elsewhere and it is commodity. The supply and money of paper is the culprit. That is the one that is causing all the trouble. People ignore the supply and demand of paper."

"What we just witnessed in the gold market, in my opinion, was a panic liquidation that has no predictive value and which occurred in the teeth of the most wildly gold-friendly fundamentals the world has ever seen. Unfortunately, this is a lesson of markets sometimes being perverse and doing whatever they want to."

To listen to this interview download this mp3 file by clickhing here.

Or go to their website and stream it by clicking here.

Anskar Belke, chairman of macroeconomics, University of Duisburg-Essen, talks with Bloomberg's Mark Barton about an alternative to gold reserve sales for Cyprus. He speaks on Bloomberg Television's "Countdown."

I just did this podcast after the close with Dave Skarica of addictedtoprofits.net.

In it we talked about today's drop in gold stocks and gold and how to navigate it.

Jim Rogers, chairman of Rogers Holdings, talks about global commodity markets and investment strategy. Rogers also discusses the outlook for the U.S. dollar. He speaks with Rishaad Salamat on Bloomberg Television's "On the Move."

Interest Rate Observer Founder and Editor Jim Grant discusses the economy and the price of gold on Bloomberg Television's "Money Moves."

Every hedge fund in the gold trade was down and every investor who bought gold themselves since then was too. Losses lead to panic. That is why the 1550 level was so important - and why it has led to this current gold crash. Every computer program yelled sell once the 1550 level was breached and the selling built up into a crescendo - into a crash.

This isn't to endorse all of his beliefs, but skip to the six minute mark and you can see why this person sent me this video - and why its relevant for the struggle gold investors are facing today.

What you are witnessing in the gold market right now is the final liquidation of the gold bug. On Friday gold fell $84 an ounce for a 5.38% drop while the HUI gold stock index fell 6%. Big bad moves. What is worse these drops have come after months of falling gold prices all while the S&P 500 has gone higher.

"$1300. Nobody knows for sure but I think the fundamentals for gold are still intact. I would like to make one additional comment."

I just did an interview with Matt Frailey of BreakPointTrades.com. In this interview we talked about gold and the broad market.

Jordan sees plenty of signs that sentiment for gold has reached an extremely bearish level which typically comes at key bottoms. He also explained how he thinks gold and gold stocks will play out over the next few months.

In this podcast Dave and I talked about gold and gold stocks and their current action. Gold stocks have fallen so much that now Newmont is paying a 4% dividend!

Frank Holmes, the CEO of US Global Investors presents his outlook for 2013 at Cambridge House International's Vancouver Resource Investment Conference held in January 2013.

40 Minute interview with famed investor Jim Rogers.

The right gold stocks have the potential to go up even more than the price of gold does over the next few years.

I want to talk to you about using gold to build real wealth. Very few people end up rich and wealthy when they retire. That's because most people make two really big blunders that they never recover from. For you that means if you want to build real wealth you have to what most people don't do. You gotta be a bit of a contrarian and go against the masses.

Gold on the other hand made a major secular bear market bottom in 2001. Since that bottom it has gone up year after to new highs with three short-term one year plus pauses. After each pause gold took off like a rocket.

There are literally hundreds of them out there and you only need to use the best one. I decided that I wanted to do more than use one to buy bullion for myself, but to find one that I could build a real business relationship with too.

Today after weeks of falling gold stocks finally rallied strongly as the HUI gold stock index went up 3.95%. Ironically last week marked the biggest one week outflow of money out of gold and commodity funds ever recorded.

Yes gold bugs are suffering and saying they have had enough. Yes many of them are tired of Dennis Gartman and they are getting ready to bust loose!

I just did this podcast with Dave Skarica of addictedtoprofits.net.

In this podcast Dave and I talked about gold and gold stocks and why February 21, 2013 may prove to be a key date for them.

I just did this podcast with Dave Skarica of addictedtoprofits.net.

In this podcast Dave and I talked about the current trends in the market and Europe and gold.

The price of gold has been kept down by hedge fund redemptions. These redemptions will end in a week and after that a nasty hand that has been holding the price of gold down will be lifted. As we begin this new year news is starting to trickle out demonstrating that hedge funds as a whole have had a horrid performance last year.

According to incoming data nine out of ten hedge funds failed to beat the S&P 500 last year. According to a recent report by Goldman Sachs their average return was 8% while the S&P 500 posted a 13% gain for 2012.

One of the stocks I own, SCCO, recently announced that it is going to pay a dividend of $2.75 to shareholders on record on November 7th. Of course the stock has gone up on this news and the dividend is so large that it gives the company an annual dividend rate of 28.9%. Incredible.

The company is one of the largest copper produces in the world with operations in Mexico, Peru, and Chile.