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June 24, 2005
Goldminer stocks moving against bullion, Fri., June 24, 2005, 12:40 PM
This morning, gold bullion (NYSE: GLD) has been trading down. Presently, gold is trading down $1.90 to $441.30.
The leading goldminers, so far however, are holding the line, following strong recent gains.
Here is the 60-minute data chart series:

Here is the Weekly data chart series:

Here is my up-to-the-minute market monitor on the larger Gold producers:

My thought here is that gold and goldminer stocks will continue to rally because of the incredible recent growth in the debt, and the printing of money, in the U.S.
The basic materials stocks, except gold-related, are pulling back because of trader concerns re China's economy, trade wars, and so forth.
Gold bullion, which had been tracking changes in the USD, is now on its own. The USD has been in rally mode because of relative weakness in the economies of America's major trading partners (Japan and Europe).
I think the posture to assume here is one of holding on to gold, and goldminer stocks. In addition, the speculative golds (and silver) stocks are having a good run, which will likely to persist through the summer and well through the 4Q05, in my view.
Posted by Posted by Bill Cara on June 24, 2005 12:40:25 PM | Category: Goldminer Producers