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Tony Locantro says mining stocks best way to play rising gold price

Alto Capital's Tony Locantro warns investors that stock markets are in danger of breaking away from economic reality. Pip trading madness is seeing stocks rise 1,000% in a day on nothing, he adds, saying it’s a bubble and people should steer clear of it. Gold stocks, meanwhile, are the best way to play the recent rise in the price of the metal to over US$1800 per ounce and he sees ‘good quality ounces’ being snapped by rivals. In fact, any miner with proven reserves is likely to be in the crosshairs in areas such as nickel and copper as well as gold. “In term of purchasing power, gold has done its job beautifully,” he told Proactive. “But the real upside is in gold stocks as they are still in a low price mentality.”

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