I dont see how gold stocks on the ASX can go up in the short term.. any market crash will also crash gold stocks -- there is no upside to be seen! Have turned completely bearish as everyone has jumped ship.. after gold went up $25 and we got to $1710 and my gold stocks went down and after previously expecting a big rise in gold stocks when markets went down in US markets only to be disappointing the cause and effect for ASX traded goldies is ludicris getting "dragged down" by materials majors or bank stocks, there was no winning.
I am still going to hold my physical gold as i believe the gold stock investment crisis will shutter many a mine in the medium term, ill still hold materials stocks on the asx but i cant bare to see my gold stocks continue there decline even when they might rise for a session or 2 so am highly likely going to sell over the next few weeks like many of my investing peers look to have done, and i dont see anything changing in the short term.
