Gold Should Bounce Off Support and Move Higher

March 12, 2009 | By: Jeff Pierce

Barrick Gold (ABX) is performing considerably better than the TSX, but is under-performing GLD (gold etf). If my analysis of gold is correct it should bounce off support and move higher from these levels. You’ll be safe in ABX as a rising tide should lift all boats, but in my view there are stronger gold stocks out there like AZK, EGO, GOLD, HMY, IAG, RGLD. I started a position in RGLD yesterday, but was to distracted by the overall market to do to much with gold yesterday.

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