Buy Gold Stocks Now?

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• Hi, My name is Justin and Im with Commodity
  Trading Research, today were reviewing our
  recently published article

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Buy Gold Stocks Now?
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Dumpster Diving Is It Time To Buy Gold Stocks?
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Over the past year Ive heard plenty of theories
from mining stock analysts as to why investors
should load up on gold stocks. theyre
cheap
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the industry as a whole is under valued
mining stocks are drastically oversold from a
long-term technical standpoint But just when
you thought gold mining stocks couldnt go any
lower, they did just that.
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Over the past few weeks the mining space
succumbed to a viscous downturn. In fact, the
Market Vectors Gold Miners ETF GDX, a great
representation of overall gold stock performance,
has declined 23 over the past month.
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No doubt about it, gold mining stocks are getting
crushed. Take a look
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As you can see, investors have been dumping GDX
without hesitation. Once multi-month technical
support in the 19 area gave way, there was no
stopping the ensuing downturn.
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But with this gold mining ETF down 30 since
mid-May, is it finally time to buy gold
stocks? Only if youre quick. Let me explain
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You see, despite trading at it cheapest price in
nearly 7 years, GDX is likely heading even lower
over the next few months. Why? For starters,
the price of the commodity gold miners produce is
falling off a cliff.
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With gold breaking below important long-term
technical support the past few weeks, the door is
now open for additional losses. In fact, I
wouldnt be one bit surprised to see the yellow
metal trading at 1,000 an ounce before this year
is done.
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Heres a gold chart
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Clearly, the tide has turned sharply in favor of
gold market bears in recent weeks. The metal is
down 6.75 in the past month, which puts it 16
lower over the past year.
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But heres the deal I wouldnt be surprised to
see a snap back rally for gold and gold miners in
coming days. Since these markets are drastically
oversold from a short-term technical standpoint,
the odds favor some degree of relief rally.
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How do you capitalize on this situation? If
youre quick, you may be able to catch a few
points on the looming upturn. You could not only
buy the aforementioned GDX, but you can also
catch some upside with the ETFs listed here.
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However, dont fall in love with your long
positions Once gold and gold miners work off
their current oversold condition, bears will
likely send these markets to new yearly lows.
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Keep in mind, theres a very important Federal
Reserve meeting tomorrow. The highly anticipated
event should give investors a better idea of when
interest rates will start creeping higher. As it
sits now, the analyst consensus is for a
September rate hike.
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Of course, rising interest rates is bad news for
gold, which offers no yield. Trade accordingly.
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