Gold… up! Silver… up! Mining shares… nearly all up! What’s going on? Stocks are really ripping back! The answer: It is believed that the central banks, in the light of “Brexit”, are going to lower rates still further, and print yet more money!!! That’s right! So, gold rose some, but silver rose a lot. I would expect volume to be average, but probably greater than average in those silver issues that had the better day today. Let’s see what the charts say… beyond the fact that the Bull is still completely intact!
We start with those that rose on better than average volume: SSRI, AG, MUX, FSM was on massive volume, SLW, ABX, PAAS, SLV on big volume, and GLD on totally average volume.
Others rose on less than average volume: CDE, PVG, HL, RIC, AUY, RGLD, SGDM and GDX.
Two declined: IAG and AKG on big volume. That’s not what we want to see.
We have new highs with: SSRI, CDE, PVG, MUX, FSM, HL, RIC, SLW, RGLD, SGDM, GDX and SLV.
I expected more volume than I actually found. In fact, the volume among all our holdings wasn’t even quite average. In any case, prices rose. Numerous new highs have been achieved. It’s clearly a bull market, and we are in it early still. There are many more to join this party going forward!
It’s 6:45 am EST and gold’s off a couple of dollars, while silver is up 10 more cents. Something’s up with silver, and it may be nothing more than buyers are closing the huge ratio gap that has existed forever. If so, it’s a sign that more and more investors/traders are becoming aware of the Bull in metals. I’ll see if I can’t confirm that thought I have.
Here’s to your accumulation of real wealth!
Harold F Crowell