Earnings season was in full swing this week but it is more or less over with. The metals confirmed their break out from last week with strong-follow through, and are set to move higher..
The GDX top 25 modestly grew their gold production overall, even though some larger majors struggled. While costs still rose on inflationary pressures, they stayed far below prevailing gold prices making for hefty profits.
$HUI -- This week has seen a takeout of the pattern’s neckline and the 200 day moving average. The bull pattern on the daily chart above could rally all the way to its measured target at 305
11,478 ounces of gold produced at $793 per ounce all-in sustaining cost, $20.4 million net sales, and a $16.6 million increase to its treasury to $44.3 million.
