Goff Corp: Short Covering On The Way?
The Individual Investor | Apr 16, 2013 12:30PM ET
Temporarily, the gold bull market has grinded to a complete halt. Over the past 2 trading days, gold and gold stocks have been pummeled. Even gold’s luster as a safe-haven investment fell apart as the yellow metal fell 9.2% on Monday with global macroeconomic concerns sending the S&P 500 down 2.3%.
The seemingly-strong thesis for gold is being put to the test with a vengeance. Here is a sample of the carnage over the past 6 months seen in gold and silver, the two most-widely traded precious metals: the Gold Miners ETF (GDX) is down 44%; the Gold ETF (GLD) is down 22%; the Silver Miners ETF (SIL) is down 42%; and the Silver ETF (SLV) is down 30%. Some analysts are calling this a bear market for gold while some market watchers have gone so far into wondering if the published last Tuesday . To quickly conclude, Goff Corp is uniquely positioned with a strong assets to survive in thrive in this recent commodity downturn. The shorts should provide a healthy boost to the timing of the shares achieving their fair value on the open market.
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