Take a look at others, including fgldx, goldx, etc. This is an undervalued sector, and while it may not make any sense to you why this sector should be moving up, the fact is that it is, and it can be viewed as a hedge for investment in the overall market. There are those who believe that having a 5% or so investment in this sector can provide some cushion against a secular bear market. You may not be aware of it, but for example, silver has been moving up, and lease rates from central banks(for the purpose of borrowing silver for investment purposes...e.g. selling and placing proceeds in income producing vehicle: so-called carry trades) have soared, and 1,2, and 3 month rates are in the 20% + levels, suggesting supply problems.
tfc-charts.w2d.com
Sorry for rambling
Dan |
