2014, Year of commodities
Hi,
I found an article on gold and commodities, it has very interesting charts:
http://www.safehaven.com/article/330...of-commoditiesI'm bullish on Gold and Commodities this year. I bought into GDX today.
If you wanted to be bullish on the metal then you wanted to choose IAU or GLD. As those trade directly against the spot price of the metal. Playing the miner has more risk involved as there are more variables in-line then just the underlying metals. As in the price of diesel (oil), land disputes (property), and equipment (heavy machinery). These all factor into the GDX; just something to think about.
I also think that this year should be a great year for commodities, I think the uptrend should last about six months for metal and miners as well.
Sold half of my position on NEM today for +1.00 Still holding half a position in NEM and a the full position in ABX. GG never did fill at a level I wanted.
The remaining shares of NEM will be moved to a long term investing account to hold for the gold rally. Once ABX hits its price target will exit half of that and move that one to the long term account as well.