By
Christopher F. Davis:
The third quarter came to a close this weekend and it was the best since Q3 of 2010. For gold and silver, it was an incredible quarter as the SPDR Gold Trust (GLD) and the iShares Silver Trust (SLV), ETFs that track gold and silver prices, were up 11.1% and 25.5%, respectively, in the quarter. The gold mining stocks outperformed gold itself in the quarter, as I suggested they might do back in July, with the Market Vectors Gold Miners ETF (GDX) and the Market Vectors Junior Gold Miners ETF (GDXJ) appreciating 20.7% and 29.0%, respectively. The move in gold and precious metals stems from two sources. First was the anticipated central bank action as gold and silver moved up on every rumor and nearly every central bank meeting. Gold and precious metals continued their ascent when central banks finally acted. First we had the European Central Bank's announcement of
Complete Story ยป