The metals were off to a great start this morning, but gave nearly all of it back, to close up by only a bit more than a dollar. At one point this morning, they were ahead by better than $10. That being the case, and seeing mostly green increases in the share prices of my holdings, I’m going to suppose that volume would have been high, but that the prices closed in the lower part of their day’s range. So, talk to me charts, what do you have to say?

We’ve got gainers on big volume in: AG, RIC, FSM and AGI.

Gainers on average volume with: IAG, PAAS, EXK and SA.

A loser on big volume in: CDE.

And gainers on light volume, as with: HL, AUY, KGC, NGD, ABX, SGDM, GDX, RGLD, SLW, SLV and GLD.

And a loser on light volume: AU.

What can I make of this? First, despite the big intra-day price move in the metals, the price change and volume for SLV and GLD were both slight. So, the big price rise in the morning did not result in excited buying and big volume the early part of the day. The miners should have done the same, and, in fact, most did. Of keen interest is the number that closed at new highs, as AG, RIC, IAG, HL and PAAS did. This would likely be in anticipation of further price advance in the actual metals themselves. The bull market is intact, and is looking for the reason and opportunity to push even higher. Let’s see what Tuesday morning will bring…

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Conducting a review of my holdings, I find that AU is badly underperforming, and not doing as I had hoped when I bought it. I will be selling it, and replacing AU with PVG. I’d recommend you do the same.

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As of almost 8:15 am EST the metals have barely moved. Same as stock futures. The world must be holding its breath, waiting for something!

Here’s to your accumulation of real wealth!
Harold F Crowell

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