Submitted by admin on Mon, 03/23/2009 - 19:23
Posted in
Obviously gold has been on an uptrend and made news headlines for a while. So, is it going higher?
Historically, gold mining shares predict the direction of the price of gold. The belief is that the "smart money" or people in the business know ahead of time. So if gold mining shares go up in price, the "smart money" is predicting gold to go up. If we look at Newmont Mining (NEM), the price of the stock failed to break out in the upward direction today. So keep an eye on NEM and GLD to try and get an early indication of what will happen.