During the second quarter, the gold price declined 4.3% from $1,668 to $1,597. On a year to date basis, gold has appreciated 2.2%. Gold mining shares as measured by the XAU Index (PHLX Gold/Silver Sector Index) declined 9.7% in the second quarter and 11.9% on a year to date basis. That is the bad news. …
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The protracted correction in gold and precious metals stocks that began in September 2011 appears to have ended. Our conclusion is based on historically reliable gauges of sentiment, valuation and technical factors. (We will publish the specific readings on these gauges with our second quarter investment letter on June 30.) This basing, in our view, …
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During the first quarter of 2012, precious metals equities, as measured by the XAU index, declined 2.4% to 175.46, while gold bullion rose 6.7% to $1668.35. In our opinion, the first quarter consisted of an important test of the low made by the metal in December at $1522.65. Precious metals shares have been marking time …
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2011 was a good year for gold bullion, up 11.3%, but a tough year for gold stocks which declined 18.3% based on the XAU index of gold and silver stocks. We addressed the reasons for the disparity between the performance of gold bullion and gold mining stocks at length in our web site article (The …
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Few would dispute that the twelve-year (and still counting) bull market in gold has been the opportunity of this investment lifetime. Even fewer have participated. From its twenty-year bear market low in August of 1999, bullion has appreciated more than seven fold. That works out to a $US compound return of 18.0% compared to 0.7% …
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