Gold's False Profit

In recent days, media and markets have sought to depict gold as the premier safe haven destination for capital today. I continue to view gold as an important diversification tool and long-term alternative to the U.S. dollar. However, I do not see gold as a near-term safe haven. If I’m right, gold offers false promise to those believing it will safeguard them from near-term U.S. equity market volatility driven by oil price decline. The important reason why I don’t trust gold is because of the probable cause of another energy decline, Europe. If the nascent pressures against Europe stymie the European economy, it would likely lead to oil price decline and U.S. equity market volatility, but at the same time, it would cause relative dollar strength. So those believing gold will protect them against this specific near-term risk are mistaken, because it threatens the euro and thereby serves the dollar, which in turn discounts gold prices for U.S. investors. See the full story at Gold's False Promise.

Precious Metal Securities

SPDR Gold Trust (NYSE: GLD)

iShares Gold Trust (NYSE: IAU)

iShares Silver Trust (NYSE: SLV)

Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)

Direxion Daily Gold Miners Bearish 3X (NYSE: DUST)

Market Vectors Gold Miners (NYSE: GDX)

Market Vectors Junior Gold Miners (NYSE: GDXJ)

Goldcorp (NYSE: GG)

Newmont Mining (NYSE: NEM)

Randgold Resources (Nasdaq: GOLD)

Barrick Resources (NYSE: ABX)

Yamana Gold (NYSE: AUY)

Gold Fields Ltd. (NYSE: GFI)

Silver Wheaton (NYSE: SLW)

Coeur Mining (NYSE: CDE)

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).