Metals did little today. They’re hanging near their highs. Some miners were down, but most were up. I would expect nothing by way of extraordinary volume, except for maybe IAG, as it had an exceptionally good day. I need to examine the charts. I don’t expect any trouble, and for the Bull to remain sound.
We’ve got gainers on light volume, see: CDE, AG, MUX, PVG, SLW, ASM, PAAS, RIC, SGDM, GDX and GLD.
And, those that rose on average volume: HL and AUY.
Decliners on light volume: FSM, ABX, RGLD and SLV.
This fell on average volume: SSRI.
And, as I had suspected, IAG rose on big volume!
I was also correct… the average volume for them all was way off by 36%! It was a very light day. Gold rose ever so slightly, while silver fell back a bit. But, they’re both close to their highs, and the miners are hanging tough, which means traders and investors aren’t the least bit concerned for the metals at this time, but fully expect them to continue higher at some point in the near future.
We have 4 new highs in: CDE, AG, HL and IAG.
The lows of Monday, July 25 are now looking to be the new level of price support.
Here’s to your accumulation of real wealth!
Harold F Crowell