Gold mining ETFs are not worth anything
Weekly target of $23, long term target ETF delisted.
Gold mining companies derive their value from the gold they produce. Their value will never increase in a greater percentage vs. actual gold because paper traded gold does not have the same built in overhead costs that companies have.
Owning gold mining stocks, ETFs, baskets, etc. have no relation to the reason for owning physical gold and I don't see how mining companies would be immune to the global sell-off.
Gold mining companies derive their value from the gold they produce. Their value will never increase in a greater percentage vs. actual gold because paper traded gold does not have the same built in overhead costs that companies have.
Owning gold mining stocks, ETFs, baskets, etc. have no relation to the reason for owning physical gold and I don't see how mining companies would be immune to the global sell-off.
Komen:
Already started a move down, but the price of gold may pull it afloat for a little while. I really believe this ETF has no real value.
My published indicators: www.tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)