By Jason Hamlin, on September 19th, 2007
We were a bit early to say that the Gold Selloff Would Not Last. After pausing at 340, the HUI continued all the way down to support at 300. But 300 proved to be very solid support and the Gold Bugs Index bounced off this mark and charged all the way to a new record at 387. That is a gain of nearly 30% in just a month! More importantly, the HUI has broken through resistance at 370, which has turned back the HUI on five separate attempts over what has been a lackluster year of consolidation in the gold market.
Continue reading Our Top 8 Gold Stocks and Why This Upleg Is Just Getting Started
By Jason Hamlin, on September 6th, 2007
July was an exciting month for gold investors, as the HUI shot from 320 to 370, breaking resistance and appearing set for some serious upside action. But the strength of the 370-ceiling once again turned away gold’s advance and sent the HUI to 340, where is paused before declining all the way to key support at 300. Goldbugs were devastated and many pundits, as they always do whenever gold breaks down, began talking about the end of the gold bull. But the 300-floor proved to be even stronger than the 370-ceiling and the HUI promptly bounced back to 330 in just a few weeks time. Today the HUI advanced back towards 360 and could be set for another attempt at taking out 370.
Continue reading Gold Stocks On Sale – Seabridge Gold Top Pick
