Gold, Silver Ignore the Upside Dollar Action - Voice of the People

Zacks' Voice of the People Highlights user inthemoneystocks: "Gold, Silver Ignore the Upside Dollar Action" from the People & Picks community.

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Gold, Silver Ignore the Upside Dollar Action

Gold and silver continue to soar higher today despite the upside action in the U.S. Dollar Index. This is telling us that many traders and investors are ignoring today's small rally in the U.S Dollar Index. It is important to realize that the U.S. Dollar Index has lost about 14.0 percent of its value since June 7th, 2010.

Meanwhile, silver has traded higher by nearly 60.0 percent since late August. Many are suspecting that the silver markets have been manipulated and are just catching up to where they should have been trading. Gold is only up 22.0 percent since late July. While the rally in gold has been sharp silver has outperformed gold during the same period.

Other silver and gold stocks that are surging higher today are Silver Wheaton Corp. (SLW), Goldcorp Inc. (GG), Newmont Mining Corp. (NEM) and Yamana Gold Inc. (AUY) just to name a few. Please remember that silver is also an industrial metal that is used in many products. Gold could be an excellent industrial metal, however, is not used in many products because of its value.

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YAMANA GOLD INC (AUY): Free Stock Analysis Report
 
GOLDCORP INC (GG): Free Stock Analysis Report
 
NEWMONT MINING (NEM): Free Stock Analysis Report
 
SILVER WHEATON (SLW): Free Stock Analysis Report
 
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