Gold Investing and Gold Stocks News

Hedge Fund Disasters Are Hurting Gold - Mike Swanson (01/09/13)

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.

Southern Copper Corp. (NASDAQ: SCCO) Raises Its Dividend - Mike Swanson (11/02/12)

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.

Gold Stocks Are Firming Up - Mike Swanson (10/12/12)

Yesterday the DOW went up about 100 points in the morning and then closed down 20 points. The S&P 500 and Nasdaq also went up in the morning and then dumped in the afternoon. The markets have been in a corrective phase for the past few weeks and action like yesterday suggests that they have not bottomed yet.

My guess is that we will see an end to this correction after a little more selling in the US markets. The bottom may come next week on a bad earnings release that causes a gap down.

Stop Being So Scared!!!!! - Mike Swanson (09/28/12)

Every day I get at least a half dozen emails from people asking me if I am worried about stocks. Usually they send me an article that has a reason to think a new bear market is coming. The reason might be that psychology is bullish, the market has gone up a lot so it has to drop, the economy will never recover, Elliot Wave nonsense says everything will fall, or we are in deflation. What is going on is that the person sending the email is usually simply worried and wants some reassurance.

So if you are worried all I got to say is STOP BEING SO SCARED!!!!

Gold's Seasonal Pattern - Mike Swanson (09/05/12)

There are seasonal patterns to most commodities and that includes gold. You can see gold's historic seasonal pattern for the last 30 years in this chart. Now last year was different, because gold peaked around this time of year and then went into a mini-bear market consolidation phase. But in most years it has a tendency to have its best months overall from August till spring.

Gold Chart Tells a Simple Story - Mike Swanson (08/29/12)

Take a look at this chart of gold. You can see that it broke its downtrend resistance line going back a year now just the other week. It popped up and now appears to making a normal pause, that probably will end sometime in September. It could end any moment, but usually a chart like this leads to a pause for 3-4 weeks. There is really powerful support in the 1610-1640 area, of its 150-day moving average, but I doubt it would even fall that much. More likely gold will simply trade in a 1650-1670 range and then just breakout of it.

Hedge Fund Managers George Soros and John Paulson Have Piled Into Gold - Mike Swanson (08/21/12)

According to recent press reports George Soros's fund management company has doubled its position in the GLD gold stock ETF to 884,000 shares and Paulson & Co. has increased its holdings by 26% to 21.8 million shares.

All of this happened in the second quarter of this year and is known to us because of filings the two had to make with the Securities and Exchange Commission.

Guest Post: Gold Stocks Should See a MAJOR Low in 2012 - Dave Skarica (07/27/12)

I realize many gold stock investors are very disappointed and depressed about the action in the gold market. We have seen gold in a consolidation pattern of about $1520 to $1900 an ounce . However, the gold stocks have acted much worse. The Amex Gold Bugs Index, an index of unhedged gold stocks, has dropped from 638 to 392. This is a drop of over 40 percent and represents the second worst gold stock decline of the past 10 years. Only the 2008 crash, which saw the HUI lose over 70 percent of its value, was worse.

Podcast: Jordan-Roy Byrne On Why The Sleeping Gold Giant May Wake Up This Fall - Mike Swanson (07/17/12)

I just interviewed Jordan Roy-Byrne who runs the website www.thedailygold.com. They call Jordan the Trendsman.

I am long-term bullish on gold, because gold is in a secular bull market, but it's been in a correction since last Fall. In April I tried to take a position in gold stocks but got stopped out. Despite that I'm still watching gold closely and plan to get in at some point so I wanted to get Jordan's take on what is happening in the gold market.

Gold Stocks Are Still Lagging The Broad Market For Now - Mike Swanson (07/06/12)

Gold stocks are still lagging the broad market and the metal for now. We saw a nice bounce in the stock market last month that probably will continue for a few weeks at least. Gold stocks bounced too. At first they bounced hard in May, probably due to the fact that they simply had fallen so bad over the past year that they had gotten themselves to a super lower valuation with many of the major gold miners trading with PEG ratios below .50.

Gold Stocks Are Super Cheap on a Valuation Basis - from Adam Hamilton (06/24/12)

"Gold stocks are now as cheap as they’ve been for their entire decade-plus secular bull. This unloved and forgotten sector has seen its stock prices beaten so low that it is now a value play today, something literally unheard of in the gold-stock world."

Dennis Gartman Is Now Bullish on Gold and Gold Stocks - From CNBC (06/20/12)

“Over the past few weeks as the gold market advanced, the gold equities – that is, large cap gold miners – performed better than bullion,” he explains. “I watch that sort of thing to see how efficient and how well entrenched the gold rally is.”

Some See Improvements in Barrick Gold(NYSE: ABX) Stock Action - Fred Dunsel (05/02/12)

Barrick Gold Corporation (NYSE:ABX) reversed a two-month slide last week, closing at $40.66, a 1% gain for the week. Last week’s stock performance was a much-welcomed improvement after the stock has been falling from $49.46 since late February. The stock is currently down 10% for the year. The gold producer will be announcing its first-quarter results on before the market open on 2 May.

Are Yamana Gold (NYSE: AUY) Shares Getting Ready to Rally? - Fred Dunsel (04/30/12)

Last Friday, Yamana Gold Inc. (NYSE:AUY) closed at $14.79, marking a 5.7% gain for the week. The gold producer, which will be announcing its first-quarter results after the market close on 1 May, has been on the rise again since bottoming out in mid-April at $10.30. While the stock is currently up 1.1% for the year, it is still far from the $17.97 achieved in late February. According to Thomson Reuters, the average price target for Yamana Gold Inc. is currently $20.91. How Yamana Gold Inc. will perform largely depends on how it copes with the strong headwinds in the industry.

Podcast: Dave Skarica and I Talk About Why You Should Stop Being Scared of Gold Stocks - Mike Swanson (04/17/12)

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

In it we talked about the current action in gold stocks and how so many people seemed to be too scared to buy them right now. Gold is down today and the GDX is up almost a percent as I write this. I got one stock up 3% today and almost all of the mining stocks I have recently bought are paying 2% plus dividends.

This is the time to buy but it seems no one can muster the courage to do it.

New Bull Market in Gold Stocks Is Coming, The Stocks Are So Cheap It's Crazy!! Get In Now!! - Dave Skarica (04/16/12)

Yes gold stocks are cheap. Watch this video and you'll see why they are cheaper than you probably thought they were. Once you watch it you will understand why the stocks are in such an incredible position right now.

Gold Stocks Are Turning Up - Mike Swanson (04/13/12)

Something funny is happening in the mining stock world. Gold and gold stocks have been in a correction since last September and it has gone on for so long that many people are giving up on them just as it appears that this correction may be coming to an end.

Just a few days ago the well respected commentator Dennis Gartman declared on CNBC that the gold bull market that began ten years ago is over. His reasoning - the recent FOMC minutes release proves that “the game has changed.”

Podcast: I Talk About My Purchase of Gold Stocks Today with Dave Skarica - Mike Swanson (04/11/12)

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

In it I talked about my purchase of some gold stocks today and together we discussed what we see happening with mining stocks right now and over the next few years. I put out a special members only Power Investor report going over the stocks I bought.

When Is A Good Time to Buy Mining Stocks And The Gold Market Vectors ETF Trust (NYSEARCA:GDX)? - Mike Swanson (04/10/12)

Gold and gold stocks have been in a correction now for almost eight months and many former gold bugs are suffering so much pain that they are throwing in the towel. Dennis Gartman for instance recently appeared on CNBC and told people to "sell gold into any rally."

Podcast: Jordan Roy-Byrne of TheDailyGold.Com Talks About Capitulation Selling in Gold Stocks - Mike Swanson (04/05/12)

I just did a podcast with Jordan Roy-Byrne of www.thedailygold.com. Jordan is a technical analyst who specializes in commodity and gold stocks.

In this interview he talked about capitulation selling in mining stocks.

Shares of Newmont Mining (NYSE: NEM) and Barrick Gold (NYSE: ABX) Are Undervalued - Fred Dunsel (04/04/12)

After falling by 3.8% last week, Newmont Mining Corporation (NYSE:NEM) rallied 1.64% on Monday to close at $52.11. The stock has been on the decline after peaking at $63.80 in late February. NEM is currently down 13.6% for the year. As a major gold producer, NEM has benefited from high gold prices, but that also means that it is subjected to the current volatility of gold prices. The company, with a market cap of $28.06 billion, will be reporting its first quarter earnings on 27 April.

Podcast: Are Gold Stocks A Coiled Spring Ready to Explode? - With Dave Skarica of AddictedtoProfits.net - Mike Swanson (04/03/12)

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

In this podcast we talked about gold stocks. Both of us think gold and gold stocks are going to end up having a big run over the next few years. We know they have been falling lately and making goldbugs suffer, but both think the next few months will be a good time to accumulate these stocks and explain why.

Recent Spot Gold (NYSE: GLD) Price Action Scares Some Gold Bugs - Fred Dunsel (03/20/12)

While gold prices were largely unchanged last Friday ending at $1,655.94 an ounce, they posted the second-biggest weekly decline this year. The precious metal’s 3.25% drop last week, while also hitting a low of $1,634 last Wednesday, erased much of the gains made in the preceding two months.

Podcast: Chris Vermeulen of TheGoldandOilGuy.com Gives His Take on the Stock Market and Gold Going Forward - Mike Swanson (03/06/12)

I just did this podcast with Chris Vermeulen of www.thegoldandoilguy.com in which we discussed his outlook for the stock market and gold.

The last time we talked we noted how the market was trading in a range for weeks. Recently the DOW and S&P 500 broke out of this range. I asked Chris if he thinks this will lead to a big rally and what his take is on gold now.

Spot Gold Prices Pulling Back - Fred Dunsel (03/06/12)

Gold prices plummeted last Wednesday after US Federal Reserve Chairman Ben Bernanke’s comments to Congress appeared to rule out further monetary easing. At one point, around $100 was wiped off the price during New York trading. By Friday, gold ended at $1,709.80 an ounce, its lowest settlement price since 25 January.

Spot Gold Prices Are on the Move - Fred Dunsel (02/27/12)

Last Friday, gold closed at $1,776 an ounce, marking a 2.93% gain for the week. This was also the precious metal’s highest gain in four weeks. Clearing a technical hurdle of $1,760, gold also rallied to a three-month high last week. It was believed that the EU finance ministers’ approval of a bailout package for Greece earlier in the week had provided some confidence in the financial and commodities markets.

Action In Spot Gold Price Captures Attention of Experts - Fred Dunsel (02/21/12)

Last Friday, gold prices settled marginally lower at $1,725.90 an ounce, after a mixed performance during the week. (This marked a 0.04% gain for the week.) Given the general optimism that the Greek debt issue could finally be resolved in the coming days, markets across the board rallied on Friday, driving gold prices down. In addition, the long weekend also made many investors more cautious, and prone to profit-taking. (Since the beginning of February, gold has been trading around $1,700 to $1,760, as investors await the outcome of the Greek debt negotiations.)

Yamana Gold Inc. (NYSE: AUY) Still On Track For High Earnings Growth - Fred Dunsel (02/15/12)

Yamana Gold Inc. (NYSE: AUY) continued its downward slide last week, falling by about 5.25% to end at $16.30. The company stock has been on the decline since peaking in late January. With a market cap of about $12.2 billion and a P/E ratio of 22.80, Yamana Gold is a Canada-based gold producer engaged in gold mining and related activities, with significant properties involved in gold and other precious metal production throughout the Americas.

Money Is Starting to Flow Into Junior Mining Stocks - Mike Swanson (02/13/12)

I just did this video with Dave Skarica of AddictedtoProfits.net at his place in Eleuthera, Bahamas. I just spent the past few days there visiting with him, having a good time, and of course talking about the financial markets and what is going on. I see him once or twice a year and every time I do we can't help but talk about the markets.

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