Wall Street Greek: It’s Time to Take Profits in Gold

After marking significant gains this year on a positive turn in fundamental catalysts, I believe gold is in store for a tougher go of it through the first half of March. Thus, I suggest investors in precious metal relative securities take profits, and holders of physical gold consider hedging for downside risk. While I see an important reversion in price coming near-term, I still favor physical gold holdings for long-term diversification and preservation of wealth. And, I expect gold relative securities to do relatively well for the whole of 2016, but to see volatility all throughout the year just like in the rest of the financial markets. See the full report on gold here.

Precious Metal Securities	YTD Performance
SPDR S&P 500 (NYSE: SPY)	-5.1%
SPDR Gold Trust (NYSE: GLD)	+17%
iShares Gold Trust (NYSE: IAU)	+17%
iShares Silver Trust (NYSE: SLV)	+7.7%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+139%
Direxion Daily Gold Miners Bearish 3X (NYSE: DUST)	-75%
Market Vectors Gold Miners (NYSE: GDX)	+41%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	+35%
Goldcorp (NYSE: GG)	+24%*
Newmont Mining (NYSE: NEM)	+44%
Randgold Resources (Nasdaq: GOLD)	+47%
Barrick Resources (NYSE: ABX)	+88%*
Yamana Gold (NYSE: AUY)	+53%
Gold Fields Ltd. (NYSE: GFI)	+54%
Silver Wheaton (NYSE: SLW)	+27%
Coeur Mining (NYSE: CDE)	+56%

DISCLOSURE: Kaminis is short GDX. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article should interest investors in precious metals stocks: Goldcorp (NYSE: GG), Agnico-Eagle Mines (NYSE: AEM), Allied Nevada Gold (AMEX: ANV), AngloGold Ashanti (NYSE: AU), AuRico Gold (NYSE: AUQ), Aurizon Mines (AMEX: AZK), Barrick Gold (NYSE: ABX), Brigus Gold (AMEX: BRD), Charles & Covard (Nasdaq: CTHR), Claude Resources (AMEX: CGR), Commerce Group (OTC: CGCO.PK), Compania Mina Buenaventura S.A. (NYSE: BVN), DRDGOLD (Nasdaq: DROOY), Eldorado Gold (NYSE: EGO), Entrée Gold (AMEX: EGI), Exeter Resource (AMEX: XRA), Gold Fields (NYSE: GFI), Gold Reserve (AMEX: GRZ), Gold Resource (Nasdaq: GORO), Golden Eagle Int’l (OTC: MYNG.PK), Golden Star Resources (AMEX: GSS), Great Basin Gold (AMEX: GBG), Harmony Gold (NYSE: HMY), IAMGOLD (NYSE: IAG), International Tower Hill Mines (AMEX: THM), Jaguar Mining (NYSE: JAG), Keegan Resources (AMEX: KGN), Kimber Resources (AMEX: KBX), Kingold Jewelry (Nasdaq: KGJI), Kinross Gold (NYSE: KGC), Midway Gold (AMEX: MDW), Minco Gold (AMEX: MGH), Nevsun Resources (AMEX: NSU), New Jersey Mining (OTC: NJMC.PK), Newmont Mining (NYSE: NEM), North Bay Resources (OTC: NBRI.OB), Northgate Minerals (AMEX: NXG), NovaGold Resources (AMEX: NG), Richmont Mines (AMEX: RIC), Royal Gold (Nasdaq: RGLD), Rubicon Minerals (AMEX: RBY), Seabridge Gold (AMEX: SA), Solitario Exploration and Royalty (AMEX: XPL), Tanzanian Royalty Exploration (AMEX: TRE), Thunder Mountain Gold (OTC: THMG.OB), U.S. Gold (NYSE: UXG), Vista Gold (AMEX: VGZ), Wits Basin Precious Metals (OTC: WITM.PK), Yamana Gold (NYSE: AUY), Coeur d’Alene Mines (NYSE: CDE), Endeavour Silver (NYSE: EXK), Hecla Mining (NYSE: HL), Mag Silver (AMEX: MVG), Mines Management (AMEX: MGN), Silver Standard Resources (Nasdaq: SSRI), Silver Wheaton (NYSE: SLW), SPDR Gold Trust (NYSEArca: GLD), Market Vectors Gold Miners ETF (NYSEArca: GDX), iShares Silver Trust (NYSEArca: SLV), ProShares Ultra Silver (NYSEArca: AGQ), ProShares Ultra Short Silver (NYSEArca: ZSL), Great Panther Silver (AMEX: GPL), Silvercorp Metals (NYSE: SVM), Paramount Gold and Silver (AMEX: PZG), Pan American Silver (Nasdaq: PAAS) and First Majestic Silver (NYSE: AG).