Pre-market futures

Equity futures are up strongly pre-market, with Dow futures up 117 to 11606. Gold and silver futures are flat at present.

Looking for gold stocks index HUI to breakout from its one year range. Above 610 for HUI will be very positive for precious metals stocks as they have badly lagged the gold and silver prices.

Remaining long RIC, RGLD, EXK, and SLW, with a stop 8% below.


Gold crashes up as consumer confidence dives

Gold is back to it winning way today as the consumer confidence came in very weak at 44.5% about 18% lower than expected. Americans feel most disappointed in history in 2011 since consumer confidence number started being tabulated.

GLD is currently at 178.06, up 4.16 and  SLV is at 40.42, up 0.72. My go to  precious metals stocks  are doing well, with RGLD up 2.1%, RIC up 8%, EXK up 3.1%.