How things have changed! When I last wrote about gold and silver stocks a few months ago, NOBODY wanted to touch these things. The stocks got SLAUGHTERED - The HUI index was dropping under 350 and gold while hovering under $1,550. The stocks tend to overreact to the highs and lows.
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| Credit: Kitco.com |
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| Credit: Yahoo! Finance |
The inevitable occurred yesterday when Ben Bernanke announced QE3 in the form of monthly purchases of Mortgage Backed Securities in the tune of $40 billion + a month.
I want to personally congratulate all the investors who had the CONVICTION to average down their gold and silver positions these past 6-12 months. It was a brutal correction we went through! But the worst days are behind us and this is where the money will be made! I believe we are entering the third and final leg up in commodities - we will see $5,000 gold and $100+ silver before this thing is over.We could very well see the HUI touch 1,000 and more. I do believe many of the gold and silver shares are still a bargain.
So for those new investors, there is still money to be made. The good news is that you still have time.
Cheers,
Steve
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