Tag: gdx

How Low Can Gold & Silver Go? Have Miners Reversed?

How Low Can Gold & Silver Go? Have Miners Reversed?

Gold is moving lower and support along the bottom of the price channel is failing. In the daily chart price remains in its $1084-1100 price range but the big picture suggests that we will see lower prices. The entities pushing the paper price of Gold and Silver lower are going to continue pushing until they can’t make anymore headway with their strategy.

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Extreme Flows in Several Gold Funds

Extreme Flows in Several Gold Funds

Looking through the final figures for fund flows among the most active ETFs for May, a few things stick out.

The most notable is the abandonment of gold-related funds. The GLD fund suffered outflows, as did the gold miners, GDX and GDXJ. With more than $1.5 billion leaving those funds over the past 20 days at the end of May, the outflow was one of the
largest in the past five years.

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Gold Price Reverses Near Key Rectracement Level

| April 15, 2015 | Category: Price
Gold Price Reverses Near Key Rectracement Level

The first chart shows Spot Gold getting a bounce off the 1140 level in mid March and hitting resistance in the 1220 area twice now. I think the long-term trend for gold is down because of the 52-week low in November. Even though the surge to 1300 looked impressive, gold gave it all back with a decline back to the November lows and the current bounce only managed to retrace 50% of the prior decline. At this point, the immediate trend is up, but this is a counter-trend move. A break below support in the 1180 area would signal a resumption of the bigger downtrend and project a move to new lows.

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Gold At Major Trendline, Miners Breaking Out

| January 11, 2015 | Category: Price
Gold At Major Trendline, Miners Breaking Out

This is a huge development in the gold space. Even if you are not a big believer in chart analysis, you simply cannot ignore the long term trend on the gold chart. The first chart below is the weekly gold chart. It shows the red line which provides tremendous resistance since mid-2012, a 2.5 year trendline. Combined with the horizontal support around $1150, there is a long term descending triangle formation.

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Gold And Silver Price Crash Of 2014 Coming?

| October 31, 2014 | Category: Price
Gold And Silver Price Crash Of 2014 Coming?

Are we about to experience another crash of the price of gold and silver, as well as miners, comparable to what we have seen in April and June of 2013? We do not exclude it, given the strong trends explained above: rising U.S. Dollar on the back of a sharply declining Yen and rising equities. On the other hand, were equities about to reverse their course because the end of QE would bring uncertainty and volatility, it could well be that the metals (mainly gold) could benefit from new money inflows.

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Gold and Miners About To Face Important Test

Gold and Miners About To Face Important Test

Most of the time gold and the dollar move in opposite directions. However, in the last few weeks the dollar has been rising sharply and gold has really been moving sideways. Now our inverted dollar diffusion indicator is deeply oversold and that may provide the price of the yellow metal with an escape hatch as the dollar corrects. However, the GLD really needs to break and hold decisively above the upper area of the trading range at $130 if it is to trigger some primary bull market signals.

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Short Term Picture For Precious Metals Complex Is Mixed With Bullish Bias

Short Term Picture For Precious Metals Complex Is Mixed With Bullish Bias

Although gold and silver had one of their worst days of the year. Overall the technical damage is limited. However, the fact that silver and the miners declined much sharper than gold is not a good sign. The short term picture for the precious metals complex is mixed with a positive bias.

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Huge Upside Potential In Gold Miners

Huge Upside Potential In Gold Miners

Since September 2012, the S&P500 and the gold mining indexes decoupled from each other. Today, the disconnect between both is huge. From a technical perspective, it appears that the gold miners are testing a resistance line which goes back spring 2013. One should closely monitor the ongoing price action in the gold miners. If they would be able to break through the current price point (250 area), then the good days of gold and silver miners could be here. That would indicate underlying strength in the precious metals complex, and hence in the metals as well.

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Gold Miners Look To Break Below June Low

| November 27, 2013 | Category: Investing
Gold Miners Look To Break Below June Low

I’m looking for the miners to break below the June Low, but for Gold to hold above it. A decline by miners below the low should trigger exhaustion selling, but if Gold doesn’t confirm, it should mark a significant bear trap for investors in miners.

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Volatility In Silver And GDX

Volatility In Silver And GDX

Bull markets include many down days. If we became discouraged every time silver moved down on a particular day, we would live 40% of our life feeling discouraged by the quite common downward moves. Bull markets move up slightly more often than down, and bear markets do the opposite. Think three steps forward and two steps backwards.

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Gold Cycle Analysis: Mining Shares Weak But Gold & Silver Bullion Strong

| November 17, 2012 | Articles: Gold Silver Stocks
Gold Cycle Analysis: Mining Shares Weak But Gold & Silver Bullion Strong

A remarkable event has taken place in the gold and silver markets in the past two days. It didn’t go unnoticed to anyone following these markets. The gold and silver mining shares have been sold off hard. The drop was out of proportion and did not reflect the actions in the stock market nor in the metals. The fact that the miners have been leading bullion up since August, raises the question if this marks a structural shift in the direction of the shares and the metals, or if both assets will start moving separately in the coming weeks and months. This article explains the answers on these questions based […]

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Why The Miners May Outperform Gold After The Election?

Why The Miners May Outperform Gold After The Election?

Regardless of who wins the election, we believe that precious metals and especially the undervalued junior miners should be included in one’s portfolio.  We are living in volatile times, where we see possibly many catalysts to cause a breakout in precious metals. The world has chosen a Keynesian approach which may cause gut wrenching hyper-inflation.  Remember Central Banks all over the world are adding to their gold reserves especially emerging nations.  Countries such as China is overweight in U.S. dollars and treasuries and have already began buying undervalued natural resource assets and early stage precious metal miners.  They are opening banks in Canada and the U.S. to finance natural resource […]

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Is Santa Coming Early for Gold & Gold Mining Stocks?

Is Santa Coming Early for Gold & Gold Mining Stocks?

If you own physical gold, gold mining stocks or plan on buying anything related to precious metals before year end, you are likely going to get excited because of what my analysis and outlook shows. Since gold topped abruptly a year ago (Sept 2011) with a massive wave of selling which sent the price of gold from $1920 down to $1535, technical analysts knew that type of damage which had be done to the chart pattern could take a year or more to stabilize before gold would be able to continue higher. Fast forwarding twelve months to today (Oct 2012). You can see that gold looks to have stabilized and […]

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Correction in Gold & Silver Stocks Nearing End

Correction in Gold & Silver Stocks Nearing End

We expected a correction after the gold and silver shares ran into predictable resistance that coincided with October seasonal resistance. That was predictable. Now we are 19 days into the correction and we see some stealth signs of strength and signs of the correction nearing its end. Let’s take a quick look at GDX before we get to the analysis. There are numerous positive elements to the current technical makeup of GDX. First, is the price action. The market has very strong support at $48 to $49. It first bottomed at $50.90 and then at $50.81 on Monday. Since then, GDX pushed higher to $53. Secondly, note that the RSI […]

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