The extreme gold-futures selling that crushed gold destroying gold stocks’ summer looks to have passed. Speculator positioning is very bullish for gold, with potential selling largely exhausted. That paves the way for big buying..
Given the immense H&S action on my weekly gold bullion chart, investors should prepare themselves for a scenario where gold and silver mining stocks may be poised to begin not just any rally but… The greatest rally in the history of the miners!
I’ve been suggesting for some time now that the PM complex is trading at a critical inflection point where they can have a big move in either direction.
The fundamentals remain as bullish as ever, but that doesn't mean we will see higher prices imminently. The XAU mining index is currently trading [Thursday and Friday] below that seen in late March even though gold prices are approx. $90-$100/oz. higher.
Gold stocks’ best-performing subset has been pummeled lower recently, leaving a wake of devastated sentiment. Traders have wholesale abandoned the mid-tier and junior gold miners which are this sector’s sweet spot for..
