Wednesday, July 11, 2007

Dollar Hitting Lows & Gold Shares Percolating




Gold prices seem to be firming as the dollar continues to decline. Seeking a pure play gold stock basket brought me to GDX - the Market Vectors Gold Miners ETF. In addition, the top holding at 14% of assets in this particular ETF is ABX - Barrick Gold. I plotted the chart of ABX and immediately was drawn to the Golden Cross that was just put in. A GC (Golden Cross) is a powerful sign that higher prices may be imminent.

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