Golden Star Resources Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Golden Star Resources (ASE: GSS) surged 10% higher in a steady climb today as the price of gold hit a new record.
So what: Gold was an inch away from reaching $1,900 an ounce today, and that sent gold stocks soaring. Miners like Golden Star, Hecla Mining (NYS: HL) , and Goldcorp (NYS: GG) are all trading significantly higher because they are leveraged plays on the continuing gold run.
Now what: How high can gold go? There doesn't seem to be any end in sight to gold's run, and as long as that holds true, miners will benefit. There isn't any specific news about Golden Star today, so I don't see a reason to change your investing thesis. If you think gold is going higher, then buy; if you don't, sell. It's as simple as that.
Interested in more info on Golden Star Resources? Add it to your watchlist.
At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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