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If you care to opine, gold stock buy?

KUCHKUCH Posts: 1,186
in Precious Metals
Have alittle money in MMF Roth IRA, buy some AZK, or take out and buy physical? (I believe there will be no penalty, taxes not 59 1/2 yet.)

I've been buying all physical, equities portfolio does not contain gold stocks yet.

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Comments

  • percybpercyb Posts: 3,324 ✭✭✭✭
    Buy gld.
    "Poets are the unacknowledged legislators of the world." PBShelley
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    AZK shows in their last report that next year they will mine less gold and cost per ounce will go up. I am not sure I would want to own that.
  • MrOrganicMrOrganic Posts: 1,366
    gdxj
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  • Norseman88Norseman88 Posts: 962
    I would take a look at AUY, JAG, SLW and possibly CDE if Gold and Silver sold off another 5-10% as these stocks would sell off 50-100% more than the move in the metals. At $950-1000 Gold and $15 Silver these stocks would be in a great range to buy them for a nice move this year or at the latest early next year, I could see the mining stocks moving 100% or more if Gold went to $1,300 and Silver to $20-25.

    Of course you could take a look at SLV or GLD but i don't believe these are backed by enough physical so CEF could be a bteer choice as they have a mix of nearly 50/50 Gold and Silver and the shares are backed by physical metal in vaults in Canada.
  • bluelobsterbluelobster Posts: 1,220 ✭✭✭
    I'd wait a little, this dollar rally looks like it has legs, but Royal Gold(RGLD) is one I'm watching
  • Norseman88Norseman88 Posts: 962
    I took the plunge today and bought 200 shares of AUY at $9.90 a share, now watch it tank another $2-3 a share then I will buy a few hundred more shares. Watching SLW and CDE but will not buy unless they get around $10 or less, might pick up some JAG if they fall another $2 or so a share below $8. This selloff is great for me as I'm short the market via SDS, TWM and SKF, I hope it corrects at least another 10% or more as this will enable me to sell out if my shorts and buy some miners and energy stocks at great prices.
    This is a great way to hedge against a falling dollar and I will watch some blue chip dividend paying stocks too for a buying opportunity.
    IMHO this dollar rally will not last to long and after a month or two at most we will see the dollar have a big selloff with commodity stocks and equites in general rallying fairly strong once the dollar sells off.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The way things are caving there could be considerably further downside to gold stocks from here. Gold might only move down a small amount from here but if the main continues to crater it will kick the tar out of the gold stocks. Not a bad time to be standing aside as the broad stock market is driving the miners. Some of the more worthy intermediates could become great values (AUY, EGO, IAG, BVN, GRS) as well as GDXJ. Over a longer period it will be hard to pick out a winner from among the group. A rising gold price will lift all those boats fairly equally.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    I made some good moves in SLV before totally liquidating my retirement accounts, penalty, taxes and all.

    I no longer felt comfortable keeping money in paper markets for various reasons, so I got completely out. I don't regret making that move, and I know that the hard assets I own are not going to disappear or become inaccessible if and when I need them.

    After being in and around the precious metals markets for about 40 years as an investor and coin collector, I also know that the market value of my holdings will fluctuate. Given today's financial environment, that's a risk I'm willing to live with. So far, it's all been good - today wasn't even a flea bite.

    Added: I want to buy some GDXJ when I decide to get back into paper, but I still don't see it happening any time real soon.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • KUCHKUCH Posts: 1,186
    Appreciate all the great suggestions. image

    Alot of options I need to sort through.
  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    EXK or MGN works good for me

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • percybpercyb Posts: 3,324 ✭✭✭✭


    << <i>I took the plunge today and bought 200 shares of AUY at $9.90 a share, now watch it tank another $2-3 a share then I will buy a few hundred more shares. Watching SLW and CDE but will not buy unless they get around $10 or less, might pick up some JAG if they fall another $2 or so a share below $8. This selloff is great for me as I'm short the market via SDS, TWM and SKF, I hope it corrects at least another 10% or more as this will enable me to sell out if my shorts and buy some miners and energy stocks at great prices.
    This is a great way to hedge against a falling dollar and I will watch some blue chip dividend paying stocks too for a buying opportunity.
    IMHO this dollar rally will not last to long and after a month or two at most we will see the dollar have a big selloff with commodity stocks and equites in general rallying fairly strong once the dollar sells off. >>



    I like your hedging strategy. I like to nibble into the market as it slides as well. Kudos on your strategy
    "Poets are the unacknowledged legislators of the world." PBShelley
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