Jack Davis | Feb 01, 2017 13:34
Originally published by Chamber of Merchants
By The Speculator
What a roller coaster of a month. It started out good and up until the 25th, the USD gold price and the miners we up 6% and 15% respectively. In the last week we had a pullback that brought gold to the 38% retracement level of $1183, closing at $1190.
At the end of every month I’ll provide a summary of the position changes. Depending on the week end dates it may be 1-2 days earlier. Lets take a look at how we went – and please post your results if you don’t mind. We are all on this ride together after all.
Lets take a look at the charts:
h2 USD Gold 4HR – Looking good so far/h2While the iShares S&P/TSX Global Gold (TO:XGD) was up 9%, how did the individual stocks fare. Here is a list of the companies I am following. Note I do not own all of them.
Blackham Resources Ltd (AX:BLK) +47%
Dacian Gold Ltd (AX:DCN) +16%
Doray Minerals Ltd (AX:DRM) +6%
Emmerson Resources Ltd (AX:ERM) -12%
Evolution Mining Ltd (AX:EVN) +2%
Gold Road Resources Ltd (AX:GOR) -2%
Millennium (AX:MOY) +22%
Northern Star Resources Ltd (AX:NST) +4%
Primary Gold Ltd (AX:PGO) +10%
Ramelius Resources Ltd (AX:RMS) +16%
Resolute Mining Ltd (AX:RSG) +10%
Saracen Mineral Holdings Ltd (AX:SAR) +8%
Silver Lake Resources Ltd (AX:SLR) +2%
St Barbara Ltd (AX:SBM) +14%
Troy Resources Ltd (AX:TRY) -7%
Westgold Resources Ltd (AX:WGX) +18%
After reading the latest post from the Merchant it seems some people are losing money trading these stocks. My strategy is different to the Merchant. I am buying and holding for the eventual spike in gold (1-3 years). I suck at trading so I stay away from it. Perhaps that is something you should think about if you are constantly losing money, and if your trading through an Australian broker those commissions add up! One thing I do agree with is to not listen to the forum posters, do your own research.
So what happened this month, if you ignore all the noise – nothing much. It was mostly dominated by the new US President Donald Trump and his new policies. Here is a break down of events that I think are worth mentioning:
The stage is being set for a wild 2017 in my opinion. While nothing earth shattering happened this month. Stay tuned for an exciting time ahead.
On a final note the US debt us currently at $19,967,500,000,000+
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