London, United Kingdom (PressExposure) September 12, 2009 -- "Zen International" the Asian-based investment broker said that its subscription clients are celebrating a profit of 23% after following a trade recommendation for Peter Hambro Mining plc (POG:LSE).
The miner is a gold and iron ore mining and exploration company in Russia and its shares are present on the "Zen International" conviction buy list.
The firm issued a trade recommendation on the 30th July to buy the stock at 610p. The recommendation apparently suggested that the firm expected to book a modest 15% within the following 3 weeks.
"Zen International" believed that the stock was ideally placed to act as a leveraged play on the short-term bullish technical outlook for the price of gold and, after 3 weeks of relatively uneventful price action, the stock broke out sharply to the upside.
As the price of gold rallied strongly last week, POG followed suit prompting "Zen International" to advise subscription clients to take profits at or around the 820p level.
The firm remains confident of the bull market in gold especially in light of the growing lack of confidence in paper currencies and the activities of central banks in China, India and Russia, all of which are buying gold as means to diversify their foreign currency reserves. "Zen International" suggests that the acquisition of shares in selected mining firms represents a potentially lucrative leveraged play on continued bullishness in precious metals.