V. 21:4 (56-61): Working Money: Gold by David Penn
Product Description
Working Money: Gold by David Penn
From gold bugs and gold standards to massive derivative speculation, the yellow metal is back.
All that glitters is not gold, goes the saying. But as far as investors are concerned, gold seems to be the only asset class with any shine at all. Gold mutual funds — as noted in Barron’s “Mutual Funds” section for December 16, 2002 — look poised to deliver returns to gold bugs that would make even the luckiest dotcom speculator salivate with envy.
An exaggeration? Consider the Gabelli Gold Fund AAA, which is up 75.91% year to date, or perhaps the Rydex Precious Metals Investor fund, up 43.49% year to date. Taken as a group, gold-oriented mutual funds are up some 50% in 2002. And these returns come in the wake of impressive returns in 2001 (almost 19% on average).
Gold fund returns in 2000 were underwhelming in most instances: the Gabelli Gold Fund (GOLDX) was down about 15.4% in 2000, the Vanguard Precious Metals Fund (VGPMX) down 9.5% — though when compared to a Standard & Poor’s 500 that was down about 10% for the year, it is apparent a changing of the guard in which stocks stepped down and gold stepped up was at hand.
From gold bugs and gold standards to massive derivative speculation, the yellow metal is back.
All that glitters is not gold, goes the saying. But as far as investors are concerned, gold seems to be the only asset class with any shine at all. Gold mutual funds — as noted in Barron’s “Mutual Funds” section for December 16, 2002 — look poised to deliver returns to gold bugs that would make even the luckiest dotcom speculator salivate with envy.
An exaggeration? Consider the Gabelli Gold Fund AAA, which is up 75.91% year to date, or perhaps the Rydex Precious Metals Investor fund, up 43.49% year to date. Taken as a group, gold-oriented mutual funds are up some 50% in 2002. And these returns come in the wake of impressive returns in 2001 (almost 19% on average).
Gold fund returns in 2000 were underwhelming in most instances: the Gabelli Gold Fund (GOLDX) was down about 15.4% in 2000, the Vanguard Precious Metals Fund (VGPMX) down 9.5% — though when compared to a Standard & Poor’s 500 that was down about 10% for the year, it is apparent a changing of the guard in which stocks stepped down and gold stepped up was at hand.
FOR THOSE ORDERING ARTICLES SEPARATELY:
*Note: $2.95-$5.95 Articles are in PDF format only. No hard copy of the article(s) will be delivered. During checkout, click the "Download Now" button to immediately receive your article(s) purchase. STOCKS & COMMODITIES magazine is delivered via mail. After paying for your subscription at store.traders.com users can view the S&C Digital Edition in the subscriber's section on Traders.com.
| Take Control of Your Trading. |
| Professional Traders' Starter Kit |
| All these items shown below only $299.99! |
| Click Here to Order |