Opinion on  Amex Gold BUGS Index (HUI)
Investing in Gold, Watch the AMEX Gold Bugs Index (HUI)

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Key: Company Name, (Stock Symbol, Price, Percentage Change, Volume), Percentage of the HUI

Note: All stocks are linked to their Yahoo! Finance statistics page.

The AMEX Gold Bugs Index (HUI):

Newmont Mining (NEM: 47.56 0.00%, vol: 0), 16.1%

Gold Fields (GFI: 18.09 0.00%, vol: 0), 15.9%

Freeport McMoran (FCX: 108.67 0.00%, vol: 0), 10.3%

Iamgoldcorp (IAG: 8.96 0.00%, vol: 0), 5.5%

Meridian Gold (MDG: 34.27 0.00%, vol: 0), 5.5%

Harmony Gold Mining (HMY: 12.31 0.00%, vol: 0), 5.3%

Goldcorp (GG: 30.24 0.00%, vol: 0), 5.2%

Randgold Resources (GOLD: 30.4999 0.00%, vol: 0), 5.1%

Agnico Eagle Mines (AEM: 49.81 0.00%, vol: 0), 4.9%

Kinross Gold (KGC: 15.48 0.00%, vol: 0), 4.8%

Glamis Gold (GLG: 0.00 N/A, vol: 0), 4.7%

Hecla Mining (HL: 9.04 0.00%, vol: 0), 4.4%

Eldorado Gold (EGO: 6.10 0.00%, vol: 0), 4.3%

Golden Star Resources, (GSS: 4.28 0.00%, vol: 0) 4.0%

Coeur D’Alene Mines, (CDE: 3.86 0.00%, vol: 200) 4.0%

I wrote earlier that I expected to see some profit taking in gold and silver stocks and we definitely have seen a bit of that happening. I’m guessing that the volatility in gold and silver stocks will be limited to a 5-10% swing from current prices. Shares of many miners have seen a 20%+ pop since the announcement of an interest rate cut by the Fed on Spetember 18th.

I am looking for gold to trade in the $710-$720 range for another opportunity to buy shares in gold miners. In particular, I will be watching the list of gold miners I posted in my article Investing in Gold, Watch the AMEX Gold Bugs Index (HUI) . I urge readers to bookmark that page and return to Raw Greed to check out which stocks and options I may be purchasing.

If the USD Index can drop below $78, that should save the day for gold and silver bulls. A USD Index under $78 should set course for gold to break $750 and for silver to break $14.