Why gold mining stocks are a buy now

By Gary Gately
Money Morning

If you’re looking to profit from a long-term investment, you’re probably not considering adding gold mining stocks to your portfolio.

After all, gold mining stocks lost about 50% of their value in the first half of the year, and a major gold mining exchange-traded fund, Market Vectors Gold Miners ETF, was down more than 40% on the year as of Tuesday afternoon.

A headline on a July 1 story summed up the sentiments of many investors: “How Gold Miners Became a Terrible Investment.”

And says Money Morning Chief Investment Strategist Keith Fitz-Gerald, “I could very easily make the argument that gold miners are unloved, undervalued and probably the worst investment of the year.

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