Gold Penny Stocks List
Yesterday’s news may be a catalyst for gold penny stocks in the near term. S&P made a revision on its outlook for U.S. debt, and consequently lowered its outlook from stable to negative.
Right now it seems we are going into uncharted territory, which could really get the gold bugs excited. While it is unlikely that the U.S. will default on any debt, the uncertainty may provide some chances to profit in gold and silver. All the way down from owning gold related ETF’s to physical metals to gold penny stocks.
Here a few to potentially put on you list of stocks
Ireland (OTC:IRLD) The stock has a been somewhat active recently based on PR’s related to its Columbus Project. The company has both a gold, and silver twist to it.
Gold Reserve (AMEX:GRZ) The company trades on the AMEX versus the Bulletin Board or Pink Sheets, which often attracts more buyers. Recently, GR has been channeling between the $1.70 and $1.85 range, which is attractive to penny stock scalpers. One negative is that the company does business in Venezuela, and as we all know, Hugo Chavez can be quite unpredictable.
Minco Gold Corp. (AMEX:MGH) Shares were down yesterday, and could be a bounce candidate after a pullback from the $3 dollar range. Please remember that Minco Gold does business in China and has more than tripled its share price this year. Like all gold penny stocks, there is some risk involved.
In closing, remember that gold and silver penny stocks can lag behind the performance of the underlying spot prices of the metals. In other words, there is no exact science. Many bulls are calling for $2000 gold, and if that happens, the chance to make money in gold penny stocks increases, but it still doesn’t mean all gold penny stocks will participate. Once again, we suggest you make a list of stocks and research them further. The key is to be informed and ready. So check out your charts, read your research reports and blogs. But, if you decide to invest at these levels, just remember that the “Gold Trade” can be a volatile one. So be prepared for some action, and don’t commit all your risk capital to one idea. No matter how good some of these gold penny stocks look.
Stay tuned for more gold penny stocks, IPO news and market reports.
As many know, there are very smart people on both sides of the gold trade. Both sides are extremely passionate in their beliefs that gold will either drastically go up or down. One thing that seems evident, is that gold is no longer solely used as an inflationary hedge. Factors like QE3 will always influence the price of gold and will lift the rising tide of gold large caps, ETF’s and gold penny stocks. However, much of the move we have seen in this precious metal can be attributed to the most basic economic principal. It’s called supply and demand.
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