WTF is up with Gold?

23 Apr

Barrick Gold Corp is trading at $18 per share.  Really?  That’s a $12 per share drop in ONE month.  Wow, I am getting worried about my recent purchase of Goldcorp Inc.  I am still shaking my head as I didn’t pull the sale trigger when I had a $200 gain in the beginning stages.  This was suppose to be a swing trade for me.  Now, I am holding in the hopes that Gold will recover and climb out of its dark depths that has shadowed upon them recently.

Personally, I have never gotten the gold fever.  What hooked me into Goldcorp was their monthly 5 cent per share dividend pay out.  Plus it was trading at its 52 week low.  This may have seem like a good deal at that time, but I did not anticipate the steep down fall in the past week.  Currently, I am at a paper loss of $932.95, -14.09%.  OUCH!

Today, the markets is in the green.  Yet, Gold has faltered.  Could this be the end of the gold rush?  This is yet to be determined.  This goes to show you how a stock can turn its back on you in an instant.

Is it wise to buy at a 52 week low?  It really depends on your patience and time horizon.

 

 

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2 Responses to “WTF is up with Gold?”

  1. Alex Yang (@yyangalex) April 24, 2013 at 2.33 #

    gold’s move has been surprising! for me, if i wanted gold, i’d probably just buy some coins from the mint. miners have exposure to extraction costs (labor). the chicken karage looks delicious btw =)

    • agentfang April 24, 2013 at 2.33 #

      Yes, I agree… I didn’t anticipate this fall out. We shall see how gold will play out in the upcoming months. Thanks, I love fried chicken 🙂

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