Chart courtesy of Stockcharts

On 28th May we decided to lock in profits of over 80% gained on Randgold Resources Limited (GOLD) when we sold all of shares for $68.69. The question now is can we use Randgold as an insurance against a possible fall in the gold stocks sector.

We believe that we are in a strong bull market for precious metals and therefore we want to keep hold of our core position of Agnico-Eagle (AEM) Kinross (KGC) Yamana (AUY) as we expect them to be trading a lot higher by the year end. However gold itself took a hit on Friday and the US Dollar bounced from an oversold position to gain 1.63% in a day as we can see from the chart above (read more…)