Wednesday was a pretty big day! Gold rose $20 and oz, and silver $.74. This represented a 1.52% rise in gold, and 3.75% in silver. Both substantial. A look in on my trading account showed all green, and with some fairly big moves, too. My guess is that volume should be substantial… at least average, and probably greater.
What will the individual charts say?
That is correct… large gains, on big volume in: CDE, MUX, IAG, HL, SLW, AUY, GDX, SLV and GLD.
On merely average volume with: AG, FSM, PVG, SSRI, RIC and ABX.
And, on small volume too, though, as with: ASM, RGLD, SGDM and PAAS.
Well, I’ve got to say, I expected more volume than what I saw, though the overall average volume increase for all 19 symbols was 32% greater, and that is a pretty substantial increase. I’m satisfied with that. 32% more is a decent increase.
The Bull Market is intact, and may even be attempting to make another move upward, as 4 of our holdings, CDE, IAG, SLW and RIC closed at new highs. Will traders take note, and jump aboard this train that may be pulling out of the station… tomorrow may tell!
Thursday morning, and the metals are up a tiny fraction. There was no true breakout action overseas last night. That’s fine. Let’s see what a day of trading with New York brings, as it opens in 2 more hours.
Here’s to your accumulation of real wealth!
Harold F Crowell