Monday, 9th October 2006 (2737 views)

Gold could be set to enjoy a strong bounceback period, claims a leading research and technical analysis company.

Investors Intelligence's latest exchange traded funds (ETFs) newsletter reveals that gold prices are start for a strong return, despite recent StreetTracks Gold Shares (GLD) dropping by 8.9 per cent over the past quarter.

The ETF newsletter attempts to focus and analysis market trends by examining a wide range of data produced using stock prices, performance and emerging trends.

John Ritchie, the author of the weekly ETF newsletter, is suggesting that investors look at the Market Vectors Gold Miners ETF (GDX) and the SPDR Metals and Mining ETF (XME) as they offer direct investment in mining companies, reports Dow Jones.

The latest newsletter from Investors Intelligence said: "Be a buyer rather than a seller of this sector."

"We don't see much more downside in metals, and we don't want to sell out at these levels since we added them to the portfolio for the long term," added Mr Ritchie.

 

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