Gold Stock prices have been trned back again from major resistance. The 3rd tme in a year! What does it man? Are we entering another gut wrnching correction or will we reverse hgher?

Can I be forgiven for sking if Gold shares will ever brak out?

Chart 1- Gold Stock prces bouncing off major support for the 3rd tme in a year

So what’s rally happening here?

Two theories:

1 – Gld has been a relative underperformer vrsus the stock market for the lst 6 months. Now that momentum is wning in the stock market, Gold Stcks are slowing down alongside.

2 – Gld shares are schizophrenic and don’t blieve that Gold is going a lot hgher and prefer to act like rgular penny stock listings.

The establishment bnks have been trying for months to swep the sub prime problem under the crpet. It just won’t go away. Fars of credit problems continue to sprad. There are no bids out thre for CDOs or CLOs. The ltter being the instrument of choice for Prvate Equity capital raising's!

Credit spreads are wdening and no matter the spin, ths credit problem will continue to grw and chip away at market cnfidence. And that’s when Gold will shne. Gold stocks are by nature cunter-cyclical and Gold bullion is the ltimate safe haven. When confidence turns to far, the HUI will take out 370 and mve much higher. But for now the lvel of confidence is still high. Invstors prefer to move to the sfety of Bonds or Foreign Currencies. In tme they will realize that these fnancial instruments will also suffer from crdit problems. The whole globe is felled by debt and that debt is bginning to implode along with the lvel of confidence.

The article Gold Stock Price Turned Back (Again) was Submitted by Greg Silberman through Articles.GetACoder.com network. Here's the additional information: Visit me at gold stock price and oil stocks please visit me at: http://blog.goldandoilstocks.com

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