Gold Stocks & Silver Nearing Relief Rally
The past few weeks have been rough for precious metals. Gold had climbed all the way to $1297/oz but the other parts of the sector (Silver and the gold stocks) failed to confirm the move. They have since fallen off a cliff. Over the past 14 days, GDX has lost 15% while GDXJ has … Continue reading “Gold Stocks & Silver Nearing Relief Rally”
The Looming, Big Catalyst for Gold
Gold bulls were hopeful that Gold could break its 6-year downtrend but recent underperformance in the gold stocks and Silver argued otherwise. Those markets have been crushed in the past two weeks as US and global equities pushed higher. In fact, the S&P 500, small caps and global equity indices have rebounded back to … Continue reading “The Looming, Big Catalyst for Gold”
5 reasons I Favor Junior Exploration Companies
I started following Gold and precious metals in 2002 and first invested in small cap and junior resource companies in 2005. Until recently I always focused on junior producers rather than junior explorers. Production stories were easier for me to understand. Towards the end of the 2008-2011 bull cycle I began covering more exploration … Continue reading “5 reasons I Favor Junior Exploration Companies”
Bearish Reversal in Gold and Silver
Precious metals ended a quiet week with quite a reversal. Gold surged above its 200-day moving average for the first time since November, only to lose the gains and then close below the 200-day moving average. Silver was already trading above its 200-day moving average before it moved higher but it then reversed strongly and … Continue reading “Bearish Reversal in Gold and Silver”
Warning Signs in Precious Metals
Precious metals closed the first quarter with solid gains. Gold gained almost 9% while Silver gained 14%. The miners (GDX and GDXJ) gained the same amounts (9% and 14%) but unlike the metals which closed at their highs of the quarter, ended up losing more than half their gains. Despite a strong quarter, the entire … Continue reading “Warning Signs in Precious Metals”
Technicals for Gold Miners Remain Weak
Last week we wrote that precious metals should see upside follow through but to be wary of the 200-day moving averages and February highs before becoming excited. The metals did follow through as Gold gained 1.5% and Silver gained 1.9% (for the week) but the miners disappointed. GDX gained only 1.1% while GDXJ finished in … Continue reading “Technicals for Gold Miners Remain Weak”
Precious Metals and 200-Day Moving Averages
The precious metals complex enjoyed a strong week mostly due to a post-Fed explosion on Wednesday. Although gold stocks sold off to end the week, they finished up almost 5% for the week. Gold gained 2.4% on the week while Silver gained 2.9%. The miners enjoyed massive gains following the previous two rate hikes and … Continue reading “Precious Metals and 200-Day Moving Averages”
An Analog for the Gold Stocks Correction
The gold stocks bounced strongly today after the February jobs report confirmed the Federal Reserve will hike interest rates next week. While precious metals rallied strongly following the previous two hikes, I’m not so sure today marks the start of a big rebound. For one, the Federal Reserve could hike rates again in July. Second … Continue reading “An Analog for the Gold Stocks Correction”
More Downside Potential in the Gold Stocks
While we expected the gold stocks to correct and test GDX $22 and GDXJ $35, we did not expect it to happen so quickly. It literally took only three days! Gold stocks rebounded on Friday and managed to close the week above those key levels. While gold stocks could bounce or consolidate for a few … Continue reading “More Downside Potential in the Gold Stocks”
Underperformance in Gold Stocks Argues for Interim Peak
The early stages of Gold bull markets (this one included) are characterized by strong outperformance from the miners. They will lead the metals and turning points and register strong outperformance. We saw that in the early 2000s, late 2008 to early 2009 and we have seen it again over the past year. During the recent … Continue reading “Underperformance in Gold Stocks Argues for Interim Peak”
-
as seen on:
