July 6, 2011

Weak Seasonality For Metals

We've entered summer, a typically slow season for the metals. Those of you who have bought shouldn't expect to see major gains the next few months. In fact, the metals will likely sell off a bit, providing a great time to add to your positions.

Gold closed June just 1.8 percent lower than it began, which is a fairly healthy start to this season. Silver pulled back almost 8 percent, in keeping with our guidance that silver will tend to move with gold but more dramatically. Still, after the over-correction in January, silver seems to be staying comfortably above the 30 dollar mark, impressive considering it was below $20 this time last year. That's an over - 50 percent gain for those who bought in June 2010. - in Schiff`s Gold Newsletter

Tickers: SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Anglo Gold (AU), Goldcorp (GG), New Gold (NGD), Novagold (NG), Seabridge Gold, Inc. (USA) (AMEX:SA), Seabridge Gold Inc (TSE:SEA), Rubicon Minerals Corp. (TSE:RMX), Goldcorp Inc. (TSE:G), Kinross Gold Corporation (TSE:K), Yamana Gold Inc. (TSE:YRI), Yamana Gold Inc. (USA) (NYSE:AUY), IShares Silver ETF (SLV), Hecla Mining (HL), Silver Wheaton (SLW)

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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