%20(NYSE:GLD)%20is%20higher%20by%20over%201%%20again.%20The%20previous%2052%20week%20high%20on%20the%20GLD%20was%20$122.45.%20Today,%20the%20high%20so%20far%20is%20$123.33.%20Spot%20gold%20is%20at%20$1,259.90,%20+$12.40.%20This%20run%20in%20gold%20is%20most%20likely%20not%20even%20close%20to%20over%20as%20the%20printing%20of%20money%20by%20every%20major%20power%20in%20the%20world%20continues.%20As%20paper%20money...){kind=link}
Gold Soars, Small Cap Gold At Lows
Gold Soars, Small Cap Gold At Lows
Gold Soars, Small Cap Gold At LowsGold is soaring to new all time highs today as the SPDR Gold Trust (ETF) (NYSE:GLD) is higher by over 1% again. The previous 52 week high on the GLD was $122.45. Today, the high so far is $123.33. Spot gold is at $1,259.90, +$12.40. This run in gold is most likely not even close to over as the printing of money by every major power in the world continues. As paper money becomes worth less and less due to dilution, gold in response will go higher.
As stocks like Newmont Mining Corporation (NYSE:NEM) hit new 52 week highs on golds surge, there are some small cap gold stocks that are sitting at their lows. To me, these have a great value and just have not been picked up by the hedge funds and money managers. Fundamentally, the higher gold goes, these gold plays should advance as well in response. Ipicked up a little Vista Gold Corp. (AMEX:VGZ) today because while gold is hitting new 52 week and all time highs, this stock is actually near the recent lows, trading at $1.78. The 52 week high is $3.38. The chart shows it has not yet responded to the rise in gold in any way, shape or form.
Bottom line is this, any company that mines or has gold should be moving up with gold. Vista Gold Corp. seems cheap at these levels and looks to be very low risk for a possible huge upside reward.
Chief Market Strategist
www.InTheMoneyStocks.com
The Leader In Market Technical Guidance