Gold Stocks: Performing Much Better

Gold stocks continued to trade much better than they have been, I mentioned that on my last podcast even though gold was down 11 dollars on the day, gold stocks were down but not that much, down just a little bit. (Newmont Mining (NEM), Barrick Gold (ABX), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Goldcorp (GG))

Market Vectors Junior Gold Miners ETF (GDXJ) Has Some Catching Up To Do

The smaller gold miners if you look at the  Market Vectors Junior Gold Miners ETF (GDXJ) which is an index of junior gold mining stocks,  I I think this thing still has to move up 30 percent or so to get back to where it was when gold was lower than it is right now earlier this year.

Gold Hits A New High For The Year

The price of gold has been creeping higher and higher ever since it had that correction and by the way I think I did a pretty good job of nailing the correction, the fact that I said it would be a very shallow correction and I'm pretty sure that I nailed the the bottom. I came on and I did a podcast when it looked to me like the gold stocks were confirming an end of the correction in gold and gold did rally and initially gold stocks rallied to but then the gold stocks came back down and almost retested their lows, didn't quite do it. But the price of gold never came back down, the price of gold kept rising and rising and now finally yesterday the price of gold hit a new high for the year. (Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), SPDR Gold Trust ETF (GLD))