Gold Prices Give Miners a Shot in the Arm
Source: Seeking Alpha, Tom Lydon (6/10/10)
"Investors are taking advantage of profit window in gold miner stocks and ETFs."
Gold for August delivery settled down $15.70 to $1,229.90 an ounce at the Comex division of the New York Mercantile Exchange, says The Street's Alix Steel.
Investors are taking advantage of the profit window available in gold miner stocks and ETFs, sending them up about 2% in the last week. While gold prices may be volatile from day-to-day, gold mining stocks may provide a little more stability, since whether gold is $1,200 an ounce or $1,100 an ounce, miners are still making a decent profit.
Market Vectors Gold Miners (GDX)
Market Vectors Junior Gold Miners (GDXJ)