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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Morning Metal Move

Both base and precious metals are moving up this morning. Gold and silver are bouncing off off support levels and the base metals are flirting with new highs as they work off resistance levels.

Here are some recent Mineweb articles about metal prices.

Gold
Copper
Nickel

Just remember that price matters more than anyone's opinion. Commodity bull markets normally last at least 10 years so it is still early.

Commodity investing is relatively straightforward. If the price of the commodity is increasing, the price of the producing/exploring company will increase, almost always at a greater rate. You run the risk of company specific issues but most people don't like to buy commodity futures contracts.

In addition to commodity prices you can check the Amex Gold Bugs Index (HUI), Phelps Dodge (PD) for copper and Inco (N) for nickel. A major move is brewing.


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