GDX, weekly
GDX, monthly
Summary
*we're halfway through the month, with GDX net higher by a very powerful 7.6%.
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The Feb' highs are close, and look set to be challenged with the next few weeks.
We have an increasing number of bullish gold factors...
- the fear bid, via Syria, North Korea, and even Afghanistan.
- President Trump is now arguing the USD is too high. A weaker dollar is by default, bullish Gold
- underlying inflation, its still somewhat subtle, but it is out there. I'd refer anyone to the CRB index.
The ultimate issue: was Dec'2015 a multi-year floor for Gold and Silver, with Jan'2016 a key floor for the related miners?
I believe so. For now, the mid term trend - that links the late Dec'2015/Jan'2016 and the Dec'2016 lows remains comfortably intact. Things turn hyper-bullish with Gold $1400s, Silver $22s, Copper >$3.00, and GDX in the $32s.
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If you are serious about the Gold mining stocks, then pick up my latest report.
see: http://permabeardoomster.blogspot.com/p/research-reports.html
