GDX

Gold and Silver equities have led the markets lower and have underperformed the metals significantly this year. For the past month or so Gold has firmed and Bonds have moved higher as most asset classes have declined. Unfortunately mining equities have been among the worst performers. However, our work leads us to believe that an … Continue reading

May was the worst month for the S&P 500 since August 2010, but the percentage loss for the month only ended up being about 1.5%.  The four day rally at the end of May, including the big up day on Tuesday, served to soften some of the damage done in May.  But the market … Continue reading

At the start of the year we wrote about what we could expect from the gold stocks and juniors over the first half of the year. All of these markets experienced significant multi-year breakouts in late 2010. This year called for a retest of those breakouts before the next advance would begin. We believed that … Continue reading

Silver has formed a (temporary?) bottom, and looks now headed towards $40-$41. First resistance will be the 38.20% fibonacci retracement level as well as the 50 days Moving Average, which are located near $39. (see second chart below) Next resistance will be found around $41, which is the 50% Fibonacci retracement level and  a Fibonacci Fan … Continue reading

Though Gold and Silver were able to make new highs in recent months, the gold stocks (as evidenced by GDX (large caps) and GDXJ (larger juniors) never did. We wrote of their relative weakness and how it was a warning sign for the sector. The shares failed to breakout and have fallen back into their … Continue reading

Yes Gold has been flirting with all-time highs. Sounds strong, right? Wrong. In reality, Gold has been in a consolidation or running correction since October of last year. In recent weeks Gold has flirted with all-time highs but hasn’t been able to achieve a sustained breakout. Meanwhile, as the chart shows, the gold stocks (GDX, … Continue reading

Many analysts focus on the seasonality of Gold and Silver. Why? It plays out most of the time. The metals tend to peak in the late spring and then bottom in the early summer before moving into the sweet spot of the year. When researching seasonality, I came across this chart from equityclock.com that shows … Continue reading

Silver has been red hot lately and the silver shares have joined in the fun. Yet, we haven’t seen a corresponding breakout in Gold or in the gold shares (as evidenced by GDXJ and GDX). In the chart below we show SIL (large silver stocks), Silver, Gold, GDXJ (gold juniors) and GDX (large cap golds). … Continue reading

The gold bull is now on the verge of launching the most spectacular up leg of this 10 year bull market. This spring we should see the final parabolic rally of the massive C-wave advance that began in April `09 with a test of the 1980 high at $860. First off let me explain gold’s … Continue reading

Gold begins a new week up a touch from where it ended last week. The spot price as we write is $1,348. Silver is off a few pennies, to $27.45.