Folks, gold is in a new bull market. This market is just getting underway. It commenced in January, by most analysis, on the 20th. It has since confirmed by all traditional means and measures, as I last wrote.
It has undergone a brief correction, which may go on longer, or, being as volatile as it is prone to be, it may even be over already… because, as more and more perceive a new bull market in gold, they’re going to be buyers of every dip in prices.
Let’s look at each issue, where those that rose on expanding volume are: RIC, AG, SLW,
Those that rose, but on lower volume: FSM, PAAS, HL, AUY, EXK, NGD, AGI, CDE, KGC, ABX, AU, SA, SGDM, HMY, GDX, RGLD and GLD.
You may note that I have added GDX and GLD to the list, for a total of 20 issues to follow. The purpose is to track miners in general, and the price of gold in particular.
Listing the issues by how they performed each day is a means of tracking the progress of the movement. That nearly all rose, but on light volume, probably means that the correction is not yet over, as it will end as prices rise on expanding volume pretty much across the board. One of the ways you can tell that miners are in a Bull Market is that the price of the shares will typically outperform the price of the metal itself, rather than underperform, as it will during a bear market. Mining shares have definitely begun to outperform the metal, and by a good bit, too! We’re in a good place!
Here’s to your accumulation of real wealth!
Harold F Crowell