What is a good index to use when trading precious metals, I mean for stocks like PCU , FCX, NUE, and other copper and metal stocks. An example would be using the HGX when trading Toll Brothers. Thanks in advance!
Check out kitco.com it seems to be an industry base to work from....gives near real time charting of commodities...you can get a program there that lets you put a link to commodity prices with a 10 second delay. You can get it from http://kcast.kitco.com/ one of the best free setups ive used.... Two indexes to watch are XAU - philadelphia gold exchange HUI - AMEX gold bugs For gold you can also use GLD.....I tend to have these running somewhere on my setup with gold futures from the NYMEX....i have to pay 15 bucks more a month but it pays for itself very quickly. im finding it hard to follow copper/aluminum stocks as they randomly go for walks in opposition to where their base commodity is going. Nothing worse than a fat position turning on you with a commodity building strength. Hope some of that helps.
Thank you guys for the input I will look into it, I agree sometimes copper and gold don't really move together and I trade copper and the other mining stocks more so then exclusive gold stocks.