Gold Finally Breaks Out With The Miners
Don't Ignore This Chart
Investing in Commodities has been tough for the first 1/2 of 2017. Every rally was a false breakout and every opportunity seems to have dried up. From Agriculture, energy, precious metals, industrial metals, steel, copper and cocoa, it has been a hard spring for trading from the long side. Today, Gold gives us a glimmer of hope that this may be changing. The miners alsolutely soared today up 4.5% in the GDX ETF. The volume was even more impressive with 98 million shares today with an average of 55 million normally.
I think silver and gold may be ready to start moving up again. Here is an article I wrote breaking down some mining companies, the better of which should outperform the metals themselves by a wide margin. https://steemit.com/money/@motowngold/i-think-gold-and-silver-are-staging-for-a-run-here-are-some-mining-stock-ideas
Thanks for the thoughts Motowngold, I'll check the article out.. Move overnight caught me off guard, miners had been diverging from the metals so I've been a sitting back and watching. Let's see how the week ends
I think the metals LOVE to catch as many off guard as possible. I think most people expect the summer to be a dead period, great time for a fake out.