Gold and Silver Stocks Safe Haven? Major Market rally

I took a 20 % position in SLW, AUY, RGLD,GSS. ALS:TSX remains on my watch list as does the biotech ARNA (Phase 3 weight loss pharmaceutical product results will be released at end of month). Tomorrow I will take an additonal 2% position in ARNA.
http://news.alibaba.com/article/detail/chemical/100072785-1-interview-arena-nears-final-hurdles-obesity.html

While institutions and central banks are increasingly looking to gold’s safe haven attributes as portfolio insurance, retail investor sentiment remains lukewarm with only a minority of the investment public having any allocation to gold whatsoever and the vast majority of the mainstream media almost completely ignoring gold’s continuing outperformance of other assets and extremely strong fundamentals.

Media coverage of gold continues to be lukewarm and focuses on the fact that gold has not yet surpassed its record nominal high of $1,030/oz, which is pointed out repeatedly.

What is rarely pointed out is that gold rose in nearly all currencies in 2007, in 2008 and is up some 8% in dollar terms (more in euro and sterling and far more in other smaller currencies many of which have fallen very sharply) so far in 2009 in stark contrast to equity markets (see Performance tables below).



Disclosure: none