Editorials

Gold’s 2016 Bull Market Moving Off Course

While we expected additional weakness in Gold and gold stocks (weeks ago) we did not quite expect the kind of selling the sector experienced in the wake of Donald Trump’s election victory. The market reacted by sending bond yields dramatically higher which resulted in stronger real interest rates, which is fundamentally negative for precious metals. … Continue reading “Gold’s 2016 Bull Market Moving Off Course”


More Weakness Ahead in Gold Stocks

The gold stocks continue to correct their epic +150% rebound that began in January and ran into the summer. Last week it was the poor relative strength in the miners that hinted the correction had more to go in both time and price. This week, it was the miners failure at a confluence of resistance, … Continue reading “More Weakness Ahead in Gold Stocks”


Negative Divergence in Gold Stocks Bodes for Lower Prices

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 “Negative Divergence in Gold Stocks Bodes for Lower Prices”


Gold Stocks Corrections in Bull Markets

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 “Gold Stocks Corrections in Bull Markets”


Monthly Charts Argue for Lower Prices in Precious Metals Complex

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 “Monthly Charts Argue for Lower Prices in Precious Metals Complex”


An Important Low for Gold and Gold Stocks?

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 “An Important Low for Gold and Gold Stocks?”


A Bit More Downside Potential in Gold Stocks

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 “A Bit More Downside Potential in Gold Stocks”


Gold Stock Technicals During Dog Days of Summer

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 “Gold Stock Technicals During Dog Days of Summer”


Gold against Foreign Currencies Update

..Gold remains strong against foreign currencies and that often is a leading indicator for the sector at large…


Gold and Gold Stocks Bull Analogs

Updated bull analogs for Gold, gold stocks and junior gold stocks…


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