Gold Fever

Gold fever is a certain mania that strikes gold prospectors and causes them to act irrationally and to build up great hope where it may not be appropriate. Gold fever does not take much to strike, and in this case, it got quite the kick start with the apparent economic change on Friday. Gold gained thanks to the poor nonfarm payroll data reported for May. The SPDR Gold Trust (NYSE: GLD) was up $3.19, to $118.86, or 2.8% for a nice day’s gain. It benefited from severe dollar weakness on the bad economic data and expected change to the Fed’s plans. Gold prices could even touch new highs on the fever if Janet Yellen doesn’t serve a dose of medicine on Monday in Philadelphia. Nevertheless, I still say avoid gold and here’s why. See the whole story on Gold Fever.

Precious Metal Securities	06-03-16
SPDR Gold Trust (NYSE: GLD)	+2.8%
iShares Gold Trust (NYSE: IAU)	+2.7%
iShares Silver Trust (NYSE: SLV)	+2.6%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+33%
Direxion Daily Gold Miners Bearish 3X (NYSE: DUST)	-33%
Market Vectors Gold Miners (NYSE: GDX)	+11.2%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	+12.3%
Goldcorp (NYSE: GG)	+7.7%
Newmont Mining (NYSE: NEM)	+9.4%
Randgold Resources (Nasdaq: GOLD)	+8.4%
Barrick Resources (NYSE: ABX)	+13%
Yamana Gold (NYSE: AUY)	+14%
Gold Fields Ltd. (NYSE: GFI)	+13%
Silver Wheaton (NYSE: SLW)	+8.9%
Coeur Mining (NYSE: CDE)	+12%

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).