Precious Metal Plays

Precious metals are showing strength again these days. Gold has bottomed twice this year near $570 an ounce and recently broke through the upper resistance line that enclosed a high tight flag formation. Having sold my precious metal holdings earlier this year in July, the collectable metals are once again flashing buy signals. The last couple days I took positions in silver using the iShares Silver Trust (Ticker: SLV) Exchange Traded Fund, gold using the StreetTRACKS Gold Trust Shares (Ticker: GLD) Exchange Traded Fund, and the Central Fund of Canada Ltd. (Ticker: CEF) an Exchange Traded Fund that hold both gold and silver.