HUI

Last week in regards to Gold we wrote: We have the majority of sentiment indicators showing more pessimism than in 2008, an explosion in negative news coverage and news that major banks have downgraded their outlooks. Without knowing anything else, you’d expect Gold to be down considerably, yet it’s only off about 5% year to … Continue reading

We all know that sentiment on Gold is quite bearish. Rather than post numerous charts which you’ve likely already seen, I want to note some of the recent statistics. By recent, I refer to the past two weeks. Market Vane’s bullish consensus for Gold hit its lowest since 2001. SentimenTrader.com’s public opinion, which combines various … Continue reading

We discuss our reasons for why a major low in the precious metals and mining stocks is at hand and why the long-term outlook remains strong. Go Here to Listen to the Interview  

Regarding gold stocks vs. Gold, we’ve learned two things….

We often write about the real price of gold (RPG) as it is a leading macro indicator and leading indicator for gold stock fundamentals. The RPG is simply a measurement of Gold in terms of various markets such as commodities, stocks or currencies. If the RPG is broadly outperforming then it could be signaling credit … Continue reading

At this point I think it’s pretty clear the general stock market is now in the initial phase of a new bear market. It’s trying to generate a bear market rally over the last three weeks, but so far it’s been pretty weak. That doesn’t bode well once the cyclical and secular bear trend … Continue reading

A variety of factors are lining up that lead us to believe we are on the cusp of a major move higher in the gold stocks. We feel we have been saying this for a while but the reality is we are moving closer and closer to that moment. The fundamentals couldn’t be more obvious … Continue reading

The number, market cap and currencies of the constituents of the HUI, XAU, GDX, XGD and CDNX indices differ considerably from each other and, as such, each index presents a different picture of what is really happening in the precious metals marketplace. This article analyzes the make-up of each index to reveal the biases of … 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