Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: Aug Gold/ Remains in its Channel/STR *PIC*

No I haven't been buying the Gold stocks as they are still underperforming Gold. ABX is also underperforming Gold and most other Gold stocks overall. It will likely snap back faster and stronger than the others at some point being the leader of the group but for now I'm just accumulating the Gold ETF:IAU. Cheap to buy at around $15 and in a consolidation pattern between 15.25 and 15.85. It tracks GOLD perfectly being that's what it holds. I'm not swing trading this as I would like to catch a 'trend' back up so didn't bail out at recent resistance. The Gold stock/Gold relationship needs to change and breakout of its downtrendlines to suggest a change in 'trend'. When that happens there are a few good Gold stocks to choose from. Perhaps even options on them once a definate trend change begins as the premium would still be very low to start I would think with such negative sentiment on them. Major lows in Gold and the Gold stocks historically bottom in the July/August time frame. DX will have a lot to do with things short term. This week could be very erratic in everything.