I like what is going on in this sector and everybody is always concerned with what is happening in the gold sector. Despite the inability of the gold ETF (GLD) to push to new highs, individual gold issues are experiencing accumulation day after accumulation day. After bouncing off it’s 200 moving average, RGLD has had quite a few high volume positive days. Take a look at AEM, GOLD and IAGto name a few, and you’ll find the same type of chart action. I opened a position in AUY today and continue to hold GLD.
While it’s been hard to get a read on the overall market with it’s daily gyrations and 100 point +/- days, one might want to look at this sector for some stability and a possible hedge against inflation.
