Editorials

In recent weeks we wrote first that the gold mining stocks were approaching a bottom and later that they had hit bottom. Bottoms typically occur in an instant. They are rarely a process like tops.  However, bottoms can form patterns such as double bottoms and inverse head and shoulder bottoms. The rebound in gold stocks … Continue reading

Gold and Gold Stocks have hit bottom. The correction in terms of price is likely over.  Time will tell if they push to new highs or chop around well into 2021. Regardless of that outcome, the downside potential in price is minimal.  Let me start with the stocks. Last week GDX nearly tested its 400-day … Continue reading

Since late July, I have deemed the gold and silver stocks as a hold and not a buy. The risk of a correction was high, and logic and history argued it would last for at least a few months.  Generally speaking, we advised being in a “do nothing” mode. But that is coming to an … Continue reading

Jordan Roy-Byrne, Founder of The Daily Gold joins me to first focus on the continued downtrend in precious metals stocks. As close as this correction could be to being over this week is reminding us that the stocks have yet to bottom. We also compare the weakness in the US dollar and bond market to … Continue reading

Gold Stocks remain in a correction, even if the October 29 lows continue to hold into December.  Corrections are a function of price and time, and often in this sector, a correction can continue in terms of time, well after a low in price is made. But I digress. The most significant and most consistent … Continue reading

We last wrote to you roughly ten days ago. We concluded, “It appears GDX and GDXJ will test their September lows at $37 and $52 reasonably soon. Should GDX & GDXJ break those lows to the downside, then we should get ready to buy.” GDX and GDXJ did break their September lows but only for … Continue reading

Tom Petty said it well. The Waiting is the Hardest Part. Precious Metals remain in a correction, and we’ve been waiting and waiting for a better entry point.  After a spectacular four-month move, Gold and silver stocks still have not corrected enough in price and time.  But the good news is, they are starting to … Continue reading

I don’t mean to be a broken record, but the precious metals sector remains in a correction. Although the miners have outperformed Gold in recent days, their prognosis has not changed. Do you think a 180% rebound (in GDX) will only be corrected by 19% and in less than two months? Even after the initial … Continue reading

In our most recent article, penned two weeks ago, we noted that if Gold broke support at $1920/oz, then it could lead to a breakdown in the sector that could result in Gold testing the low $1800s and GDX and GDXJ testing lower levels like $37 and $51. Precious Metals have made a mini breakdown, … Continue reading

During bull markets, gold stocks (and the entire precious metals sector) tend to oscillate between correction and consolidation or impulsive advance. Commodities and precious metals are emotional markets, and this can make the medium to intermediate-term trends prominent and easier to define.  At present, the sector is in a period of correction and consolidation, and … Continue reading

The precious metals sector is correcting and consolidating as predicted, although some parts have been buoyant in recent days. Silver is one of those parts. The immediate question is whether a new leg higher starts or if recent strength is a bounce within a larger correction and consolidation. If you are fully invested or close … Continue reading

Precious Metals began a long anticipated correction a few weeks ago but it was somewhat interrupted by news of Warren Buffett buying a stake in Barrick Gold. The Buffett bounce has passed and the correction could reassert itself as the path of least resistance remains to the downside.  The weekly chart we posted a few … Continue reading