Panic Selling of Gold Stocks

Fidelity Select Gold Fund (FSAGX, last change: -4.92%)

The selling of gold mining stocks accelerated today. As the result, the Fidelity Select Gold Fund (FSAGX, last change: -4.92%) has reached a new 52-week low. The panic selling of gold stocks is not well explained by the news. This should serve as a red flag for investors who are trying to pick the bottom to go long in gold. We will not consider investing in this sector until prices stabilize.

Buy/sell signals for Fidelity funds are available at FidelitySignal.com 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s