Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Gold closed the week back above $2,900 at $2,911 – a good bounce after the drop to last week’s $2,857. Perhaps more importantly, the miners climbed quite strongly, as can be seen on the chart below of Gold against the mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers), suggesting that Mr Market’s appetite is finally getting more positive. But perhaps the biggest story is that according to our favourite technical analyst, Jordan Roy-Byrne of TheDailyGold.com, Gold has breached a line in the sand, outperforming the standard 60-40 portfolio - a development he has long held as critical to fire up the yellow metal.
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