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October 11, 2010

There Is More Fear Then Greed In The Gold Market.

The gold stock index, was only up around 1% on the week despite the 2% move in gold and the 5 percent move in silver. And again, this underperformance of gold stocks, shows me that there continues to be more fear then greed on the gold market. Gold is not in a bubble, its simply climbing the wall of worry.

Related stocks and ETFs: SPDR Gold Trust (ETF) (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Newmont Mining Corporation (NYSE:NEM), AngloGold Ashanti Limited (ADR) (NYSE:AU), Harmony Gold Mining Co. (ADR) (NYSE:HMY), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), Barrick Gold Corporation (USA) (NYSE:ABX), NovaGold Resources Inc. (USA) (AMEX:NG)

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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