Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: TheSlowLane	8/16/2011 6:47:10 AM
	2 Recommendations Read Replies (3) of 48092

The Big Signal No One Talked About When the indices plunged mid-week, gold hit a record high of $1800. That's hardly a surprise for me and if you have been reading the Equedia Letter for a long time, you would know this. I think gold will continue to go much higher. But that's not what caught my attention. When the indices plunged mid-week and gold hit a record high of $1800, guess what companies soared? That's right, all of the gold majors. For the first time in a long time, I saw gold stocks rally with the price of gold. Every gold major surged when gold hit $1800: Barrick (ABX), Goldcorp (GG), Kinross (KGC), Freeport McMoran (FCX), Yamana (AUY)...you name it. Just take a look at the Market Vectors Gold Miners ETF (GDX) which surged 4 out of 5 days, ending up nearly 6%. Even the Market Vectors Junior Gold Miners ETF (GDXJ) soared, ending up just over 7%. This is a big signal - one I am shocked that media outlets and other prominent newsletter writers failed to mention. All they saw was the volatility. seekingalpha.com

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