I was out and about all day long. I got back to see green among my miners. I looked into the metals prices and saw that gold was up a bit, but silver was down a little. This gave me reason to believe that the volume among my miners would likely be on the light side. So, I’m bringing up my charts to see if there’s any message to be derived from them.
There are those that rose on average volume, like: AG, SSRI, AKG, RIC, PVG, PAAS, RGLD, KGC, EXK, GDX and SA.
I find considerably more volume moved: CDE and ABX.
Light volume was involved in the price move of: HL, FSM, IAG, AUY, SLW and SGDM.
Silver fell $.20 from Friday, but on light volume, and none of the miners did! Gold rose a bit from Friday, also on relatively light volume. The appearance is again one of a Bull Market still intact, but undergoing a correction. There’s been no high volume selling, and even as the metals have been flat or slightly down, typically the miners still manage to rise a bit, which is an incredibly bullish development. Let’s sit tight, and await the next lift-off.
Here’s to your accumulation of real wealth!
Harold F Crowell