Gold Analyst on BNN says...
A couple of days ago a TA Analyst who had strong opinions on what Gold is doing had this to say...
Strengthening USD coupled with traditional cyclical October Bear on gold prices is wreaking havoc with gold prices and will continue to do so until mid-November when it will turn. Obviously you should keep a sharp eye on USD as it can slow the decline or even turn Gold UP in a blink.
So I bought HGU $6.95 and next day heard the opinion and sold at $7.55 only to watch it close at $8.49. Smacked my forehead... it's getting pretty flat these days... but now have a Bid of $5.50, $5, etc. I might pick off a few thousand at $6 only because I don't want to miss it...
I wonder if Bullion (HBU) is the better way to play gold here. Percentage swings aren't as strong but what if the underlying companies get into financial knots even with the price of gold going up ? I would imagine some of the better minds playing this ETF have thought that out ?