Can gold stocks shine again?

FSAGX

An impressive 3.26% gain today brought the Fidelity Select Gold Fund (FSAGX) close to its long-term declining trendline. FSAGX has already advanced beyond its 100 day moving average. A continued advance passing the trendline can reverse the bear market in gold stocks.

Technical analysis screens are provided by FidelitySignal.com 

Bear corner: gold stocks are out-of-favor

FSAGX

We wrote in our March 25, 2012 blog entry that gold stocks no longer shine. The bear market in gold stocks has continued ever since. The Fidelity Select Gold Fund (FSAGX, last change: 0.55%) is now the weakest year-to-date performer with a -13.57% loss in our survey of Fidelity mutual funds.

Technical analysis screens are provided by FidelitySignal.com

Gold stocks break out of trading range

We’ve been tracking gold stocks for some time and the breakout happened today, following a 3.02% move in the gold bullion (GLD).

SPDR Gold Shares (GLD) up 3.02%

SPDR Gold Shares (GLD) up 3.02%

The Fidelity Select Gold (FSAGX) fund is up 1.64% today and broke out of its trading range

The Fidelity Select Gold (FSAGX) fund is up 1.64% today and broke out of its trading range