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You have heard it before from us and probably elsewhere. The miners lead Gold. We have seen this every major turn dating back 16 years and it can also be the case with respect to short and medium term trends. While the precious metals sector has rallied over the past few weeks, the rally has … Continue reading
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The gold stocks are clearly in correction mode. The large caps (HUI, GDX) have corrected 30% while the juniors (GDXJ) have held up well in comparison by correcting the same amount. Given a number of factors (the size of the previous advance, the recent technical damage, stronger US$ index and rising yields) the gold stocks … Continue reading
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The trading month doesn’t always end on a Friday but when it does we like to take a look at the monthly charts. Generally, I prefer daily and weekly charts because they have more data points. However, monthly charts carry more significance than weekly charts which carry more significance than daily charts. You get the … Continue reading
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Gold and gold stocks bounced to end the week thanks to an oversold condition coupled with a softer than expected jobs report which likely delays Fed action until December. At one point this past week the market had priced in a 64% chance of a single rate hike by December and a 42% chance of … Continue reading
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Last week we projected 5% to 10% downside in the gold stocks. Well, not to butter my own bread but GDX and GDXJ both lost 9% on the week. That being said, I believed that the weakness would be limited and miners could rebound to new highs in September. While that possibility remains, there is … Continue reading
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The gold stocks are trading around their highs but have failed to breakout this August. Is that due to the dog days of summer, the upcoming Fed conference or something else? We aren’t sure and don’t think it matters a great deal anyway. With that said, let’s delve into the current technicals. The weekly … Continue reading
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..Gold remains strong against foreign currencies and that often is a leading indicator for the sector at large…
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Updated bull analogs for Gold, gold stocks and junior gold stocks…
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In a bull market corrections can end quickly. One minute you are projecting another 5-10% downside and the next, the market has left lower prices in the dust. A negative reaction to the Federal Reserve statement could have caused lower prices but instead Gold and gold stocks are now primed for new highs. Fundamentally, we … Continue reading
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My favorite indicator for real time Gold demand is the amount of Gold in the GLD and its fluctuations over time. As we wrote in our book, the driving force for Gold is investment demand which is driven by changes in real interest rates. Western-based investment demand from big money (i.e Stan Druckenmiller and George … Continue reading
