Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Wednesday, May 12, 2010
Time to buy GOLD
Gold has broken out above highs, and may pull back from here. A break below 110 from current 120 would be a decent stop-loss.
I suspect gold will do better than gold miners in the near future, but can't hurt to buy both with proper stops. It doesn't matter if you believe in gold as a storage of wealth, what matters is others do. Gold may go parabolic, crazy valuations are possible from here.
Only share two of your miners...On the overhand, I have forsake the silver producers for gold, as earning potential appears to be higher...
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