So much for Gold Stocks breaking out and September being a seasonally strong month for Gold, after a great start on Tuesday, up $12/oz, Gold was pounded for the next three days. Tuesday’s close of $640/oz would be a faint memory by Friday as Gold closed at $610/oz. This is a critical week for Gold if it doesn’t hold above $600/oz next stop may be the June lows $560-$570.
Oil also struggled this week closing at $66.25/barrel. It’s lowest close since April. On the bright side gas prices are down.
Below are this week’s results of our regularly discussed stocks:
SOX – Semiconductor Index
GLD – Gold Bullion Exchange Traded Fund (ETF)
GDX – Gold Mining Stocks ETF
CEF – Gold and Silver Bullion ETF
USO – Oil ETF
PHO – Water Resources ETF
BRIC – basket of 4 country ETFs: Brazil, Russia, India and China
BBO (Big-Build Out) – basket of 12 stocks critical to the industrialization of BRIC
Refer to the following links for more information on above stocks.